Saturday, 22 November 2014
Last updated 1 day ago
Feb 23 2009 | 12:34am ET
While some of its clients have very loudly opposed Banco Santander’s Bernard Madoff settlement offer, most have chosen to go along.
Spain’s largest bank told a Miami court last week that about 70% of its Madoff-burned investors have decided to accept its compensation plan. Santander has offered subordinated debt securities with a 2% annual payout to its clients, who lost about US$1.7 billion in Madoff’s alleged US$50 billion Ponzi scheme. Santander’s hedge fund unit, Optimal Asset Management, has acknowledged some €2.3 billion (US$3 billion) of exposure to Bernard L. Madoff Investment Securities.
The settlement offer was made only to Santander’s individual investors, and not to institutions.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...