Tuesday, 31 March 2015
Last updated 34 min ago
Aug 6 2007 | 9:00am ET
Tisbury Capital co-founder Stephane Carnot has been forced out due to alleged misconduct levied by his fellow co-founder, Gerard Griffin.
Griffin reported what he called “unauthorized” personal trading to the Financial Services Authority.
In a letter to investors, seen by the Sunday Times, Griffin said Carnot broke a Tisbury rule by failing to keep the London hedge fund’s compliance office fully appraised of his trades, though he apparently did not violate any securities laws.
In the letter, Griffin wrote to investors, “I wanted to draw to your attention that Stephane Carnot will be leaving Tisbury with immediate effect. I simply wanted to say that we expect the highest standards from each and every one of our people and there can be no exceptions to this principle.”
Griffin added that “outside counsel” will conduct a “full inquiry” into alleged “unauthorized personal account transactions by Mr. Carnot.”
The Times reports that Carnot’s ouster is the endgame of what had become a bitter power struggle within the firm.
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…