Friday, 27 March 2015
Last updated 54 min ago
Feb 27 2012 | 1:44pm ET
UBS is set to spin-off a macro proprietary trading group as an independent hedge fund under one of its top executives in Australia.
MST Capital will split from the Swiss bank next month. The new firm will be led by Gerard Satur, formerly head of securities in Australia and equity trading in the U.S. at UBS.
"We're spinning out of the best investment bank in Australia," Satur told Bloomberg News. "We have a very experienced investment team across all asset classes."
Satur, now chief investment officer for macro strategic trading, will employ a macro strategy in his new firm. Sydney-based MST hopes to raise as much as A$500 million (US$535 million) for the new vehicle, and is targeting annualized returns of 10% to 15%.
MST's team includes Jeremy Hooper, formerly of Morgan Stanley, and Matthew Mulcahy, formerly of Pacific Investment Management Co. Both men currently work at UBS' investment bank.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…