Oscar Schafer is winding down OSS Capital Management. Clients will have the option to move their funds to a new fund, to which Schafer is providing $50 million in seed money. It will be run by run by two of his junior partners, Barry Lebovits and Joshua Kuntz.
Barclay’s chief executive Bob Diamond, who will appear in a taped interview for BBC tonight, is expected to say that bankers must be “better citizens.”
Equity research analyst Todd Remis, who is currently divorced, is demanded the photography company that took his wedding photos pay him the $4,100 cost of the photography and he wants $48,000 to recreate the entire wedding.
The number of millions estimated to be missing from MF Global: $630 million. The number of days between when, after regulators prompted a review of MF Global’s financial statements, it disclosed in a footnote that it had bought debt from Italy, Ireland and other troubled European nations, and when it declared bankruptcy: roughly 135.
Adam Wyden’s hedge fund ADW Capital Partners, which has $500 million AUM, is up 90% YTD in less than a year after it started in his basement.
Occupy Seattle protesters attempted to barricade JPMorgan’s chief Jamie Dimon in the Sheraton hotel where he was giving a keynote address for University of Washington.
At least 15 Occupy Wall Streeters were arrested outside of Goldman Sachs’ 200 West Street offices today.
Disgraced Galleon hedge fund manager Raj Rajaratnam, who was sentenced to 11 years in federal prison for insider trading, will serve his term at the Federal Medical centre Devens in Ayer, Massachusetts.
Lawyers argue that Raj should not have to pay the £6 million fine and a £30 million forfeiture of criminal proceeds. It’s “excessive.” 11 years in jail is punishment enough, they say.
The cover of today’s New York Post demands that Mayor Michael Bloomberg kick the Occupy Wall Street “bums” out of Zuccotti Park in order to restore the city’s dignity.
Leon Black’s private equity firm Apollo Global Management, which had its IPO earlier this year, posted a third-quarter loss.