Thain Gives Hedge Fund A Piece Of His Mind

Sep 8 2006 | 12:00am ET

 Proving itself unusually adept at arousing the ire of exchange executives, The Children’s Investment Fund this week found itself on the wrong side of a tongue-lashing from NYSE Group chief John Thain.

In an interview with The Wall Street Journal, Thain slammed the hedge fund’s opposition to NYSE’s merger with European exchange operation Euronext, in which TCI holds a substantial stake. According to Thain, “TCI, like all hedge funds, is simply touting its own interests” in pushing a merger with Deutsche Börse, in which TCI also holds a big stake.

The man who took the New York Stock Exchange public accuses TCI of downplaying possible regulatory problems with a Deutsche Börse-Euronext marriage, and mocked a proposal to allow Euronext shareholder to vote on both merger options.

“That’s not going to happen,” he told the Journal. “This is not a multiple-choice quiz.”

In TCI, Thain is scuffling with an adversary with one exchange executive’s scalp already in hand. The U.K. hedge fund led the opposition last year to Deutsche Börse’s proposed acquisition of the London Stock Exchange, the failure of which led to the downfall of Deutsche Börse CEO Werner Seifert.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.