Sunday, 21 September 2014
Last updated 1 day 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.
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.