Saturday, 27 December 2014
Last updated 3 days ago
Mar 14 2012 | 2:38pm ET
Paulson & Co. has lost its top banking analyst, who plans to launch his own hedge fund.
Robert Lacoursiere left New York-based Paulson last week, Bloomberg News reports. He will launch his financials hedge fund within six months.
Lacoursiere did not make investment decisions at Paulson, instead overseeing the firm's 10 financials analysts. The now-former partner joined Paulson in 2008, the same year that Paulson suffered its last top departure, that of Paolo Pellegrini, from Bank of America Securities.
Lacoursiere also formerly worked at Capital One Financial, Lehman Brothers and Bear Stearns.
The stocks that Lacoursiere and his team covered have weighed heavily on Paulson, which saw its largest hedge fund lose more than 50% last year. The firm recently sold off its entire holdings in Citigroup and Bank of America.
Lacoursiere's exit follows the brief departure of one of his analysts, Zach Gast. Gast quit in January only to be rehired this month to work at Paulson's London office.
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.