Tuesday, 31 March 2015
Last updated 5 hours ago
Apr 17 2012 | 12:33pm ET
SAC Capital Advisors' former Asia chief has been named president of Singapore-based hedge fund Dymon Asia Capital, one of the region's largest.
Jay Luo will oversee risk management and operations for Dymon when he joins the firm in June. As at SAC, he won't manage any of Dymon's US$2.85 billion in assets, and his addition is subject to regulatory approval.
Hiring Luo will allow Dymon founder Danny Yong to spend more time managing money, he told Bloomberg News. Dymon's flagship macro hedge fund returned more than 20% last year but is down about 2% this year.
Luo will remain in Hong Kong. He spent a decade at SAC, running its Asia operations for six years after a stint at the firm's Stamford, Conn., headquarters, in risk management.
"Jay's risk-management experience is crucial in helping us to further refine and institutionalize our risk-management processes and controls, and continue to pursue our core focus of delivering performance through prudent monitoring and management of the investment portfolio and financial markets which we invest in," Yong told Bloomberg, which broke the news of Luo's hiring. "SAC is clearly one of the best hedge funds in the world with outstanding risk-management practices."
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…