Tuesday, 23 September 2014
Last updated 8 hours ago
Jun 5 2013 | 10:25am ET
Wells Fargo has nabbed a top Deutsche Bank prime brokerage executive as it seeks to build its own such business.
The San Francisco-based bank named Eamon McCooey head of prime services, it said yesterday. It also named Dan Thomas, its head of interest-rate and commodities sales, to lead its new client trade services group, which combines prime brokerage, over-the-counter clearing, futures clearing and execution, and funding and liquidity management. McCooey will report to Thomas.
McCooey was head of U.S. prime brokerage at Deutsche Bank, where he's worked for 13 years. He officially joins Wells Fargo in September, taking over from Stephan and Aaron Vermut, the founders of Merlin Securities, the boutique prime brokerage Wells bought last year. The Vermuts left the bank earlier this year.
"Eamon's extensive knowledge of the prime brokerage industry combined with his proven ability to lead and grow a business makes him an ideal fit for our organization,” said Thomas. “We are committed to our Prime Services business and look forward to the growth opportunities created by the addition of Eamon to our team.”
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 McKitich, CIO of Petty 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…
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.