Sunday, 3 May 2015
Last updated 2 days 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…