Saturday, 27 December 2014
Last updated 3 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.