After a record 27% drop in ’08, the Harvard endowment gained 11% in the university’s fiscal year ending June 30 2010. Now headed by Jane Mendillo, the fund surged to $27.4 billion, “thanks to a $1.4 billion gain from hedge-fund plays, bonds and assets ranging from timber to real estate.” Hefty contributions from deep-pocketed alumni also helped.
ING bankers are probably the happiest to enter – or leave – work. @Convertbond tweets that the firm has re-hired the lobby piano player.
@Convertbond: Buy or Sell Signal? The Piano player is back in the lobby of the ING building 1325 Avenue of the Americas.
Insiders say JPMorgan is testing out the iPhone as an alternative to RIM’s Blackberry, the smartphone of choice for corporate email. UBS has confirmed it is also considering letting employees use iPhones for company messaging.
An accused Brooklyn Ponzi has filed a $250 million libel lawsuit against the SEC for calling him a pornographer. Philip Barry – alleged to have swindled $40 million – says the commission sent out a press release that said “he operated a mail-order business that sold pornographic materials,” which he denies.
Deutsche Bank will reportedly announce a a share issue of up to 9 billion euros ($11.4 billion) next week.
Towerbrook Capital, a spin-off from George Soros’ fund and the private equity firm that owns shoe giant Jimmy Choo, has enlisted Morgan Stanley and Goldman Sachs “to consider long-term strategic alternatives” for the footwear brand. An IPO has not been ruled out.
German banker and former Berlin finance minister, Thilo Sarrazin, will step down from the board of Bundesbank after comments made about Jews, Muslims, immigration and the poor, outraged Europe.
NON Wall Street News:
For the first time Finland-based Nokia has appointed a non-Finn as its CEO and President. Stephen Elop will depart as head of Microsoft’s business unit to take on the new role at the struggling mobile company.
Liam Neeson is dating an English businesswoman – Freya St. Johnston. This is Neeson’s first love interest since he lost his wife, the actress Natasha Richardson, who died after a skiing accident in 2009.