Saturday, 20 September 2014
Last updated 17 hours ago
Mar 10 2009 | 11:35am ET
The global hedge fund industry’s workforce could shrink by as many as 20,000 heads this year, as firms struggle to cope with fewer assets and lower fees.
The job cuts, amounting to 14% of those currently employed in the hedge fund industry, would be a record, according to executive search firm Options Group, and twice as many as were lost last year, when hedge funds cut 10,000 positions.
According to Options Group, hedge funds currently employ 145,000 people around the world. According to Hedge Fund Research, 920 hedge funds closed their doors last year, when a whopping 70% of hedge funds lost money. That has led to a round of belt-tightening, as hedge fund firms learn to live without the performance fees they cannot begin to collect again until recouping last year’s losses.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.