Thursday, 28 August 2014
Last updated 13 hours ago
Oct 5 2012 | 1:52pm ET
Moore Capital Management's European business posted a big increase in profit last year after slashing administrative costs.
Moore Europe Capital had £31.7 million (US$51.3 million) to distribute to its seven partners in 2011, according to a regulatory filing. That's a 45% increase from 2010.
Moore Europe's revenue actually fell by more than one-third to £76.7 million. But its administrative expenses fell by more than half, to just £44.6 million, accounting for the jump in profit. Salaries were £30.5 million, averaging £285,000 for each of its 107 employees.
The profit goes to five people and two companies, MECM Limited and Moore Europe Capital Development. The people sharing in the pot include Moore founder Louis Bacon, co-chief investment officer Greg Coffey, David Barker, Maurizio Alfano and Gian Luca Ambrosio, who resigned in November.
Next year, emerging markets macro strategies chief Soraya Chabarek will share in the pool.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...