Sunday, 29 November 2015
Last updated 1 day ago
Dec 21 2011 | 2:07am ET
Former Man Group chief Harvey McGrath has resigned from insurance giant Prudential following a failed acquisition bid.
McGrath will retire next year, pending the selection of his successor as chairman of the company. While people close to McGrath say the exit, after three years at the helm, was his own decision, it comes after Pru abandoned a US$35 billion takeover bid for Asian insurer AIA. The aborted effort cost Pru some £377 million.
In May, about one in five shareholders opposed McGrath's reelection as chairman.
McGrath served as chairman of Man until his retirement in 2007, after almost 30 years at the hedge fund. He also served as chief executive.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…