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Feb 26, 2013

Exclusive: Goldman to begin fresh round of job cuts

By Lauren Tara LaCapra and Katya Wachtel

(Reuters) – Goldman Sachs Group Inc will begin its annual job cutting process as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading.

The bank usually culls out the weakest 5 percent of its employees around now. But the cuts will likely be deeper in some businesses, particularly equities trading, where volumes and earnings are weak. The number of shares traded on major U.S. exchanges so far this year is down 7.2 percent.

Feb 26, 2013

Goldman to begin fresh round of job cuts -sources

Feb 25 (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) plans to
begin a fresh round of job cuts as early as this week, sources
familiar with the matter said on Monday, with its
equities-trading business bracing for bigger cuts than
fixed-income trading.

The cuts come at the time of year in which the Wall Street
bank typically gets rid of its weakest 5 percent of employees
across the entire firm. But as the trading business continues to
suffer from weak volumes and earnings, the losses are expected
to be deeper in some businesses.

Feb 25, 2013

Head of Morgan Stanley’s fund-of-funds moving to Carlyle

NEW YORK (Reuters) – The head of Morgan Stanley’s (MS.N: Quote, Profile, Research, Stock Buzz) fund-of-hedge-funds business, Jacques Chappuis, will leave the firm in May and join Carlyle Group LP (CG.O: Quote, Profile, Research, Stock Buzz) as a managing director, according to an internal memo from the bank and a statement from Carlyle.

Chappuis is joining $170 billion asset manager Carlyle as managing director and head of the Solutions business division, according to a statement released on Monday by the asset management firm. He will be based in New York.

Feb 25, 2013

Exclusive: Goldman to begin fresh round of job cuts – sources

By Katya Wachtel and Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc plans to begin a fresh round of job cuts as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading.

The cuts come at the time of year in which the Wall Street bank typically gets rid of its weakest 5 percent of employees across the entire firm. But as the trading business continues to suffer from weak volumes and earnings, the losses are expected to be deeper in some businesses.

Feb 25, 2013

EXCLUSIVE: Goldman to begin fresh round of job cuts -sources

Feb 25 (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) plans to
begin a fresh round of job cuts as early as this week, sources
familiar with the matter said on Monday, with its equities
business bracing for bigger cuts than fixed-income trading.

The cuts come at the time of year in which the Wall Street
bank typically gets rid of its weakest 5 percent of employees
across the entire firm. But as the trading business continues to
suffer from weak volumes and earnings, the losses are expected
to be deeper in some businesses.

Feb 21, 2013

AIG is the new Apple of hedge fund managers’ eyes – report

NEW YORK, Feb 21 (Reuters) – American International Group
has replaced Apple Inc as the hedge fund
industry’s favorite stock, according to a Goldman Sachs Group
analysis of fourth-quarter regulatory filings.

The American insurer, bailed out by the U.S. government
during the financial crisis, knocked Apple out of the top spot
in a list of stocks deemed most important to hedge funds,
according to a Goldman report released late Wednesday.

Feb 20, 2013

Ex-Soros CIO begins courting capital for new fund

NEW YORK, Feb 20 (Reuters) – Keith Anderson, the former
chief investment officer for billionaire trader George Soros’
money management firm, is raising money for a new macro hedge
fund, according to a person familiar with the firm.

Anderson left Soros Fund Management in June 2011 when the
well-known money manager returned $1 billion in cash to outside
investors and converted his firm into a family office that now
manages $24 billion of money mostly belonging to Soros and his
family.

Feb 15, 2013

SAC has $1.68 bln in withdrawals as trading probe deepens

NEW YORK, Feb 15 (Reuters) – Hedge fund billionaire Steven
A. Cohen is feeling the pinch from the federal government’s
insider trading probe as outside investors in his SAC Capital
Advisors submitted requests to withdraw a total of $1.68 billion
from the firm by year’s end.

The amount of the investor redemption notices exceeds the $1
billion figure Cohen had been telling the 900 employees at his
$14 billion hedge fund to expect. The firm was bracing for
withdrawals as the insider trading investigation increasingly
focuses on the activities of former employees of Cohen’s fund.

Feb 15, 2013

SAC hit with $1.68 billion in withdrawals as trading probe deepens

NEW YORK (Reuters) – Hedge fund billionaire Steven A. Cohen is feeling the pinch from the federal government’s insider trading probe as outside investors in his SAC Capital Advisors submitted requests to withdraw a total of $1.68 billion from the firm by year’s end.

The amount of the investor redemption notices exceeds the $1 billion figure Cohen had been telling the 900 employees at his $14 billion hedge fund to expect. The firm was bracing for withdrawals as the insider trading investigation increasingly focuses on the activities of former employees of Cohen’s fund.

Feb 14, 2013

U.S. hedge funds sour on Apple; favor dollar stores

By Svea Herbst-Bayliss and Katya Wachtel

(Reuters) – Hedge fund heavyweights from Leon Cooperman’s Omega Advisors to Barry Rosenstein’s Jana Partners threw in the towel on Apple Inc in the fourth quarter, while other managers found discount retailers Dollar General Corp and Dollar Tree Inc attractive, regulatory filings showed on Thursday.

Apple has been the topic du jour since last week, when prominent hedge fund manager David Einhorn sued the company to get it to deploy its $137 billion cash pile more effectively and halt a 35 percent drop in its share price from a record high in September.

    • About Katya

      "Katya Wachtel is a hedge fund and big money reporter for Reuters. She hails from Melbourne. Australia, not Florida. You can contact her at katya.wachtel@thomsonreuters.com"
      Hometown:
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