Tuesday, 23 September 2014
Last updated 3 hours ago
Jan 13 2014 | 9:39am ET
Former Citigroup chief Sandy Weill has been named chairman of SAC Capital Advisors' former reinsurance business.
Weill was introduced on Friday by the new CEO of the newly-rechristened Hamilton Insurance Group, Brian Duperreault. "Sandy Weill is an icon in the financial services sector," he said. "I have no doubt that our goal of establishing a leading insurance and reinsurance business will be realized."
SAC sold the former SAC Re to a group led by Duperreault and hedge fund Two Sigma Investments last year, following its guilty plea on insider-trading charges. SAC's deal with prosecutors bars it from managing outside capital, which would prevent it from continuing to manage SAC Re's premiums.
SAC founded the reinsurer in 2012 as a permanent-capital vehicle. Two Sigma will take over its role managing Hamilton's premiums.
"Brian's teaming up with Two Sigma marries insurance expertise with an outstanding record of investment expertise, a combination that I believe will work well," Weill said.
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.