Halifax Bids For Piece Of Titanic Hedge Fund Industry

Nov 20 2006 | 12:55pm ET

Halifax, Nova Scotia, once the principal North American hub for Britain’s Royal Navy and famously the final resting place for many Titanic dead, is aiming for a new, lucrative claim to fame.

The city, where temperatures in January rarely top freezing and residents enjoy almost 20 inches of snow a year, may yet challenge its more temperate competitors, such as Jersey and Bermuda. Citco Group, a major hedge fund administrator based in the latter tropical paradise, is expected to announce today that it will open—with generous subsidies from Nova Scotia’s government—an office and training center in the city that will employ 350 people. Citco’s announcement comes after last week’s news that hedge fund Olympia Capital International plans a 150-employee office in the city.

According to the Globe and Mail, Bermuda-based financial companies have made hiring commitments to Halifax totaling about 1,000 jobs.

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...


FINalternatives Trending

From the current issue of