A former DRW Holdings LLC trader and research analyst was accused in a lawsuit of stealing proprietary computer code used in the firm’s quantitative strategies. Avi Mahajan was sued in federal court in New York on Tuesday by an entity controlled by DRW’s lead quantitative researcher, David Sweet. According to the suit,...
Sean “Diddy” Combs surprised the music industry and its observers recently when he decided to transfer rights from his Bad Boy Records catalog to some of the artists and songwriters who long ago helped make him a billionaire. Although there has been no shortage of news coverage, there aren’t many...
Labor Day weekend this year marked more than the unofficial end of the summer. It also marked the end of TD Ameritrade’s custodial platform for independent financial advisors. Over the weekend, 3.6 million accounts and $1.3 trillion in assets held across 7,000 registered investment advisors finally moved from TD to...
David Kowach, former head of Wells Fargo Advisors, and his new firm, &Partners, took another step closer to coming to market last week when Kowach and his partners acquired a broker-dealer and registered investment advisor with $663.8 million in assets, according to filings with regulators. The firm, Wiley Bros.-Aintree...
Fidelis Capital, a registered investment advisor, announced Tuesday that a team that oversaw $4.5 billion in assets at Bank of America Private Bank has joined the firm. The team from BofA, which will operate from an office in Washington, D.C., includes wealth strategist Christopher Tate, portfolio manager Michael Sellers, fiduciary...
Investing in collectibles can require significant funds but owning part of something that others can only dream of offers some of the prestige for far fewer dollars. A new platform from duPont Registry gives investors the opportunity to own a piece of a rare, luxury, investment-grade automobiles through fractional equity...
Focus Financial Partners is looking ahead to a new era of growth following its acquisition by funds affiliated with Clayton Dubilier & Rice and Stone Point Capital. The deal which takes Focus off the public market — it was previously listed on the Nasdaq — and into private hands was...
The financial services sector is set for substantial growth in the next few years as several factors converge. The global market is anticipated to reach more than US$37.5 trillion dollars by 2027 at a compound annual growth rate (CAGR) of 7.5% according to the latest report from The Business Research...
The world’s biggest banks aren’t telling stakeholders what they need to know to judge how big the industry’s carbon footprint is, according to a fresh study. Only five global banks have disclosed the quantitative results of climate scenario analyses to shareholders and clients, according to a report published on Tuesday...
Asset managers trying to sell funds in Europe are finding it “increasingly difficult” to do so unless their products are registered as ESG, according to a study by analysts at Goldman Sachs Group Inc. The research comes more than two years after the European Union enforced its Sustainable Finance Disclosure...