Quant-Focused Renaissance Technologies Sees $15B In Outflows
Although quant-focused hedge fund Renaissance Technologies saw double-digit returns last year, it also experienced almost $15 million in outflows over the past 14 months. Renaissance is a $100 million powerhouse due to its overperforming Medallion fund, which is open exclusively to current and former company employees...
J.P. Morgan Converts $10B In Mutual Funds To ETFs
Finance heavyweight J.P. Morgan is jumping headlong into the exchange-traded fund (ETF) space, to the tune of nearly $10 billion. The firm is due to commence its conversion of four of its mutual funds to ETFs in April...
Bank Of America, Morgan Stanley Manage Low Cost Growth Amid Inflation...
Interest rate increases drive high profits for banks, but inflation has compounded to the point of creating an entirely new experience for financial institutions and their backers. Fourth-quarter comparisons show that two major money handlers, Bank of America and Morgan Stanley, have managed to buck the trend of soaring costs and pay...
Alternative Investment Platform CAIS Becomes Unicorn Through $225M Funding
With a newly updated valuation of over $1 billion, alternative investment platform CAIS has officially reached unicorn status. The firm received $225 million in capital in a funding round led by alternative asset manager Apollo and PE investor Motive Partners...
Omicron Forces Investment Bankers Into Teleconferencing Return
Although the impact will not be nearly as harsh as the sudden social suspension COVID-19 forced on them in early 2020, the Omicron variant's spread is causing investment bankers to switch back to remotely-conducted business. The onset of the pandemic made global merger and acquisition activity fall to a three-year low...
TCI Wins Hedge Fund Top Honors For 2021 With $9.5B Gain
In a year where aggressive bets on rising stock markets paid off in dividends, the world's top 20 hedge fund managers of 2021 earned a record $65.4 billion on behalf of their clients. Leading in overall performance was British billionaire Sir Chris Hohn's The Children's Fund (TCI)...
ETFs Drive BlackRock To Reach Record $10 Trillion In Assets.
Thanks to a boom of fourth-quarter flows into its exchange-traded funds (ETF), multinational investment management firm BlackRock has become the first public asset manager to reach the milestone of $10 trillion in assets. The record-breaking three months at the tail end of 2021 saw investors put a net $104 billion in Blackrock's ETFs...
Bank Of America Reduces Overdraft Fees, Cancels NSF Charges
In a new development reflecting the changing attitudes of the largest U.S. banks, Bank of America has significantly reduced the fee charged to customers for overdrafting their account and will eliminate charges for non-sufficient funds (NSF). Overdrafting most commonly occurs when debit card users spend beyond the cash available in their accounts. Beginning in May, overdraft fees will drop from $35 to $10...
Bridgewater Names New Co-CEOs As David McCormack Steps Down To Pursue...
Bridgewater, the investment firm founded by billionaire innovator Ray Dalio, is returning to its previous dual-chief-executive business model as current CEO David McCormick pursues political office in Pennsylvania. While McCormick prepares for a campaign for Pennsylvania state Senator, Bridgewater has named Nir Bar Dea...
Bank Of America Leads Major Increase In Banker Bonuses After Revenues...
After 2020 prompted layoffs, pay cuts, and financial restraint, Bank of America is leading the pack in restoring bonuses for investment bankers. Bank of America executives are planning a 40 percent increase in the bonus pool for its sales and trading bankers, and the other major players are expected to follow suit...
Popular Articles
Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...