Sunday, 28 December 2014
Last updated 3 days ago
Jul 25 2012 | 10:32am ET
Tudor Investment Corp.'s restructured European business paid out some US$76.6 million to its members after profits at the unit jumped tenfold.
Members of Tudor Capital Europe split US$62.6 million in the 12 months ended March 31, as well as a further US$14 million awarded by the directors as part of its partnership agreement, Financial News reports. While TCE paid out just US$8 million to members last year, major changes at the unit make that comparison all but meaningless.
To begin with, that US$8 million went to just two employees. Last year, however, Tudor moved a number of portfolio managers and directors from its Tudor Capital (UK) arm to TCE, increasing the latter's headcount to 20. Tudor said the move was made to boost TCE's "ability to retain and incentivize key personnel."
At least one member has been so incentivized: The highest-paid member got US$23.2 million last year, almost three times as much as the unit paid out to its two employees in 2010.
TCE is based in Epsom, England. Its pre-tax profits for the fiscal year were US$66 million, up from US$6.5 million in fiscal 2010.
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.