Just a few years ago, Glen Point Capital co-founder Neil Phillips was celebrated as an aggressive but canny trader in the mold of one of his macro hedge fund’s main investors, George Soros. As of last week, Phillips is a convicted felon. Phillips, 53, was found guilty of commodities fraud on...
KKR & Co. is raising a second Asia real estate fund, targeting $2 billion to $2.5 billion to spend across the region, according to people familiar with the matter. The new fund has amassed about $600 million since late 2022, and the US investment firm is seeking to finish fundraising...
A stockholder in Avantax Inc., which is being acquired by the giant broker-dealer network Cetera Holdings Inc., last week sued Avantax, claiming that its board of directors had approved the filing of a proxy statement that had incorrect information about the merger and potentially could harm investors. One of...
The latest economic data show Americans are continuing to open their wallets despite the rise in interest rates and stubbornly high prices. Apparently, financial advisors keeping a sharp eye on their clients’ accounts aren’t seeing much of a spending slowdown either. Consumer spending climbed 0.7% in September, up from an unrevised...
If you’re a woman advisor looking to support other women, Sharon Hayut says the Women Advisor Summit is the event you’ll want to attend. “You’re going to have a room full of really wonderful women who are there to help empower each other and make our industry, which is mostly...
Advisor Credit Exchange has added two former UBS senior leaders as its new CEO and COO. The tech platform that enables investment firms and advisors to access lending and cash management solutions was co-founded by Peter Stanton, who has decided to step down as chief executive but will remain with...
The fast growth and future potential of private markets have prompted specialist private assets firm Schroders Capital to launch a new unit. With an initial $30 billion AUM and 100 investment professionals, the Private Debt and Credit Alternatives unit will bring together the firm’s real asset debt, structured and corporate...
Employers in the US probably tempered their pace of hiring this month after beefing up payrolls by the most since the start of the year, consistent with a sturdy labor market that’s powering economic expansion. Government data on Friday are projected to show payrolls in the world’s largest economy increased...
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon plans to sell shares currently worth about $141 million, the first such transaction since he took the helm at the Wall Street giant almost 18 years ago. Starting next year, Dimon and his family will dispose of 1 million of the...
Following a strong performance by European banking stocks this year, investors should now bet on declines in the sector as lenders are at risk from a looming peak in bond yields, according to JPMorgan Chase & Co. strategists. Any drop in yields, or interest-rate cuts by the European Central Bank...