Thursday, 18 December 2014
Last updated 8 hours 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.