Day: 31 July 2015

Maiuri to Head State Street Global Exchange

Lou Maiuri has been appointed to head State Street’s Global Exchange business. Maiuri will report directly to Mike Rogers, president and chief operating officer of State Street. “Having led our securities finance and investment management servicing businesses, Lou has a keen understanding of the needs of our buy-side clients,” says Rogers. Prior to joining State […]

Fortress Reveals Second Quarter Struggles at Macro Fund

Hedge fund group Fortress Investment has announced its second quarter results, showing continued struggles for its macro fund which was managed by former Citi global head of FX Jeff Feig before he exited the fund last month.  Fortress’ results show that the macro fund dropped 6.5% net of fees in the three months to June […]

FCA Appoints New Director of Supervision

The UK’s Financial Conduct Authority has appointed a new director of supervision – investment, wholesale and specialists, the division responsible for oversight of markets. Megan Butler is joining the FCA from the Bank of England’s Prudential Regulatory Authority on September 1 and will hold the post for one year. Butler’s arrival is part of a […]

Parker Index Falls in June

Currency managers had a tough June according to the Parker FX Index, which fell 1.52% on the month, with just five of the 30 funds to report results showing a positive return. On a risk-adjusted basis, the Index was down 0.68% in June, the median return was -1.19%, while the performance ranged from a high […]

ISDA: Compression in Interest Rate Derivatives Growing

A new research note from the International Swaps and Derivatives Association (ISDA) says that compression activity in interest rate derivative markets has increased “significantly” over the past year driven by new regulations and developments in clearing technology. In particular, ISDA says the implementation of the Basel III leverage ratio has acted as a major incentive […]

Rabo Libor Trader Banned by FCA

The UK’s Financial Conduct Authority has formally banned Lee Stewart, a former trader at Coöperatieve Centrale Raiffeisen-Boerenleenbank (Rabobank) from the UK financial services industry for “lacking honesty and integrity” following a criminal conviction for fraud in the US. In March 2015 Stewart pleaded guilty in the US for his role in a conspiracy to manipulate […]