Friday, 19 December 2014
Last updated 3 min ago
Jun 27 2013 | 1:05pm ET
A Brevan Howard Asset Management trader linked to an interest-rate-rigging scandal has left the hedge fund.
Christopher Cecere resigned for personal reasons, Brevan Howard said today, after Japan's Financial Services Agency alleged that he had sought to manipulate the Tokyo interbank rate while at Citigroup. Cecere denied the accusations, noting that he was never questioned during the investigation and that Citi had paid him his full bonus when he left the bank.
The FSA did not sanction Cecere himself, simply fining Citi. But the regulator did find that Cecere had engaged in "seriously unjust and malicious" behavior, working with another Citi trader in seeking to influence employees at Citi and other banks on the rate to benefit their derivatives traders. The FSA did not say whether the scam succeeded.
Cecere joined Brevan Howard's Geneva, Switzerland, office in 2010.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.