Friday, 19 September 2014
Last updated 13 hours ago
Feb 15 2013 | 2:22am ET
UBS' former credit-trading chief has hired a JPMorgan Chase banker who helped deal with the latter's massive losses on credit derivatives last year.
Henry Kim will join Eric Rosen's Reef Road Capital. Kim worked under Rosen when the latter headed JPMorgan's credit-trading team.
Reef Road was set up by Rosen last year and will launch its maiden fund in the second quarter, The Wall Street Journal reports. The firm already employs eight people.
Kim spent much of his last year at JPMorgan dealing with the fallout from the trades of Bruno Iksil, known as the "London whale." Iksil's derivatives trades wound up costing JPMorgan more than $6 billion.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.