Saturday, 26 July 2014
Last updated 22 hours ago
Jan 2 2013 | 12:12pm ET
Crispin Odey's "pretty horrible year" in 2011 doesn't look quite so bad on paper.
Odey's eponymous London-based hedge fund saw its income and profits drop in the year ended April 2012. But the former fell by only 11% and the latter by 22%: not good, certainly, but pretty good by "pretty horrible" standards.
Odey Asset Management took in £40 million in income on the fiscal year, down from £45 million. Most of that was attributed to a £6 million drop in performance fee income, which fell by more than 70% to just £2.5 million. Profit fell from £34.7 million to £27.2 million.
That means that Odey himself had to take a nearly 40% pay cut, taking home just £9.4 million compared to £15.4 million in the year-ended April 2011. Other payroll costs grew along with the firm. Its team, which is six members larger than the previous year, earned £7.58 million, up from £6.45 million.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…