Monday, 20 October 2014
Last updated 1 hour ago
Apr 10 2014 | 9:21am ET
Och-Ziff Capital Management's James Levin has had quite the payday—even better than boss Daniel Och's.
The trader behind a $7.5 billion structured credit bet in 2012 walked away with almost $119 million in stock as a reward (based on the value of the shares at the time they were granted), according to regulatory filings. That's significantly more than the $21 million in shares received by firm founder Och.
The bet—which wagered a quarter of the firm's then assets under management—won big, bringing in almost $2 billion and meant Levin's 14-member credit team generated more than half of Och-Ziff's $3.4 billion trading gains in 2012, according to The Wall Street Journal.
Levin, head of global credit and executive managing director at Och-Ziff, received no other salary or bonus last year.
Och-Ziff had close to $43 billion under management as of the end of Q1.
The payout was reported earlier by Forbes.
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 ...