Tuesday, 24 November 2015
Last updated 21 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…