Sterne Agee & Leach hired a 10- person team from Citadel’s securities unit to trade high-grade credit. The new hires are Andrew Rochat, Jon Walker, Scott Shiffman, Michael Rand, Andrew Simons, John Finnegan, Mac Sutherland, Helen Shannon, Bobby Treacy and Allen Oppici.A man was thrown in jail for punching a cop at a Wall Street protest.
The New York comptroller expects 10,000 layoffs to hit Wall Street now through December 2012.
Barack Obama’s re-election campaign is looking to hire some quants.
John Paulson said the Occupy Wall Street protesters need to stop vilifying “our most successful businesses.”
Occupy Wall Streeters later left a present of a novelty tax cut check made out for $5 billion on hedge fund manager Paulson’s doorstep.
New York City’s Mayor Michael Bloomberg said yesterday that the Occupy Wall Street protesters are unfairly blaming “hard working” people on Wall Street.
Some Wall Street bankers were told not to poke fun at the Occupy Wall Street demonstrators. Others have told us they joke around casually, but no one at their banks think it’s a big enough deal to require guidelines about how to interact with the protesters.
The New York Observer has put together a slideshow of the Occupy Wall Street’s “Zuccotti Hotties.”
Hedge fund asset levels are back above 2006 highs. The industry’s assets rose 6.7% to $2.16 trillion in the first half of the year, which is more than in 2006, but less than its pre-credit crunch peak in 2007, when assets briefly topped $2.6 trillion.
Hedge fund Longacre Fund Management, which once had a peak of $3 billion AUM pre-financial crisis, told investors yesterday that it’s closing its flagship funds.
Economist Nouriel Roubini is reportedly selling his namesake firm Roubini Global Economics, which is also losing money.
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