Moore Europe Profit Rises

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.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...