Monday, 22 December 2014
Last updated 57 min ago
Mar 21 2012 | 1:43pm ET
Hedge fund Passport Capital has slimmed down in the wake of last year's double-digit loss.
The San Francisco-based firm has laid off 14 employees, including seven staffers, it said. The job cuts came over the past week.
Passport lost 18% last year. Following the layoffs, it employs 76 people, including 34 investment staffers.
"We made the difficult decision to do some downsizing of staff last week, reducing to approximately the headcount we had at the beginning of 2011," the firm said in a statement.
The firings were first reported by Bloomberg News.
The smaller Passport is up 3.7% this year, through February.
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.