Thursday, 18 December 2014
Last updated 18 hours ago
Oct 1 2009 | 12:34pm ET
Investors sent shares of Swiss fund of hedge funds shop GAM Holding soaring on its first day as an independent company—for a while.
Switzerland’s Julius Bear Holding split its core private bank from its asset management division, listing them separately on the Swiss Exchange today. Shares of GAM, which opened at 12.50 Swiss francs, soared to 14.50 francs in mid-morning trading, before slowly slipping to 12.02 francs at close.
“The separation of Julius Baer Group gives GAM Holding Ltd increased strategic flexibility to achieve the full potential of our business, whilst allowing us to continue to benefit from our relationship with Julius Baer private bank,” Johannes de Gier, chairman of GAM, said.
Julius Baer investors received one share each of the two new companies.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.