Monday, 20 October 2014
Last updated 6 hours ago
Mar 31 2014 | 11:42am ET
A former Citigroup trader linked to an interest-rate-rigging scandal has resurfaced at hedge fund Element Capital Management.
Christopher Cecere has joined the $4.4 billion New York-based firm, The Wall Street Journal reports. Cecere most recently worked at Brevan Howard Asset Management, leaving that hedge fund in June, more than a year after the Japanese Financial Services Agency accused him of attempting to manipulate the Tokyo interbank rate during his time at Citigroup.
Cecere denied the accusations and was not personally sanctioned for what the FSA called his “seriously unjust and malicious” behavior. The regulator, which fined Citi and banned it from trading several products for a short period, alleged that Cecere and another Citi trader, Tom Hayes, asked bankers to change data submitted during the setting of the rate.
Hayes has since been brought up on criminal charges in the U.K.
Cecere joined Brevan in 2010.
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 ...