Wednesday, 1 October 2014
Last updated 9 hours ago
Mar 18 2013 | 2:36pm ET
The struggling Man Group will pay its top bosses no bonuses for last year and will permanently cap them going forward.
Man said annual cash bonuses will no longer exceed 250% of salary. That's significantly more than the 100% cap imposed on banker salaries by new European Union regulations, and higher even than the 200% cap allowed in some circumstances with shareholder approval.
Man will also award deferred bonuses only after a three-year performance assessment, it said in its annual report.
"The new plan will increase transparency and alignment with shareholders whilst reducing the complexity and likely quantum of awards," Man said.
Man also said it would pay its new CEO, Emmanuel Roman, the same US$1 million salary it paid his retired predecessor, Peter Clarke.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...