Wednesday, 23 July 2014
Last updated 2 hours ago
Jun 30 2008 | 9:08am ET
SAC Capital Advisors is the latest hedge fund to cut back on its fixed-income activities.
The $16 billion Greenwich, Conn.-based firm is shutting the debt business of its Sigma Capital Management unit in addition to other fixed-income retrenchments, Bloomberg News reports. SAC will shift the focus of its debt trading, moving some of its fixed-income portfolio into equities.
Mark Davies, the Bear Stearns veteran who joined SAC last year to boost its fixed-income investing, is leaving the firm. All told, SAC is eliminating about eight jobs when it closes the Sigma business on June 30.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…