Friday, 27 March 2015
Last updated 34 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
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