Tuesday, 21 October 2014
Last updated 31 min ago
Mar 12 2014 | 11:16am ET
Stuart Hendel is on the move again.
Hendel, Bank of America's head of global prime brokerage, is in talks to leave that firm. Hendel's exit is expected at the end of May, following a transition period, The Wall Street Journal reports.
Hendel joined BofA in 2011, after similarly short stints as head of prime brokerage at UBS and Morgan Stanley. From 2004 through 2006, Hendel served as chief operating officer at Eton Park Capital Management.
His latest departure is due to disagreements with BofA global equities chief Fabrizio Gallo over whether the prime brokerage business should grow, or simply be maintained. A BofA spokesman told the Journal that the bank's "strategy remains unchanged in prime brokerage."
Hendel's exit follows that of Robert Sachs, his global head of capital introductions. Sachs told BofA this week that he plans to join a hedge fund.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...