Friday, 19 September 2014
Last updated 6 hours ago
Feb 3 2012 | 12:25am ET
HSBC Holdings' New York hedge fund administration unit is the latest victim of the bank's cutbacks in the U.S.
HSBC said it would close the division of HSBC Securities Services in the U.S., potentially costing 200 people in New York their jobs. The bank said it will move the business to Dublin, Ireland, where it already has a substantial administration presence.
But it won't be taking all of its clients with it to the Emerald Isle: HSBC has reportedly told some clients they should seek other fund administrators.
Total job losses from the closure will not be known for between six to nine months. Some positions may be moved to Dublin.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.