Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.
Friday, 2 December 2016
Last updated 16 hours ago
Apr 30 2008 | 7:05am ET
Och-Ziff Capital Management shares have lost more than one-third of their value since the New York hedge fund giant’s November initial public offering. But firm founder Daniel Och is faring rather well.
According to regulatory filings, Och made $484.8 million last year, all but $30 million of it tied to his firm’s floatation. Och, who holds a $1 billion stake in Och-Ziff, enjoyed a $349.7 million payout from a $750 million loan the firm took to distribute to directors, as well as a second payment of $104.4 million tied to his stake. By contrast, he earned just $30.6 million in management fees.
Och-Ziff directors had agreed to keep the proceeds from the IPO in the firm’s funds for five years, but this does not apply to money paid out from the loan.