Ramius Rethinks Asia

Nov 3 2008 | 1:05am ET

New York-based Ramius Capital may be joining the hedge fund exodus from Asia.

The firm, which manages $11 billion, may turn in its Hong Kong trading and advisory licenses, the Financial Times reports. The move would follow similar decisions by Concordia Advisors and GSA Capital Partners, which have closed offices in Asia. Others, including Tantallon Capital and TPG-Axon Capital Management have reduced staff in the region.

TPG-Axon has recently let go of at least a third of its Asian staff, while maintaining its US workforce, according to insiders. TPG-Axon initially declined to comment but later said this was “completely inaccurate” and that ”staffing levels remained unchanged.”

Ramius said it would continue trading Asian securities from its New York and London offices.

RELATED STORIES

Hedge Funds Close, Cut Or Delay Asian Offices


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

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.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR