Saturday, 18 April 2015
Last updated 15 hours ago
May 18 2009 | 12:04pm ET
Geneva-based Union Bancaire Privée is looking to get back into the good graces of its investors with several new initiatives to address losses suffered by some of its clients as a result of Bernard Madoff Ponzi scheme.
As part of its plan, UBP has created a new senior executive position to guide and direct all research efforts and to chair the investment committee. The new head of research will oversee all “bottom-up” aspects of UBP’s investment process, as well as the approved list of hedge fund managers.
In addition, the investment risk management function will now be separate and independent from portfolio management and will focus on risk management at both the manager and portfolio levels.
The bank has also decided to make a goodwill gesture by offering to acquire from its eligible investors the Madoff-related investments for 50% of the cost basis of their investment by paying them one-fifth of the purchase price each year, plus 2% interest, over the course of five years.
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…