Lauren's Feed
Jul 22, 2015

Special Report: Blackstone champions hedge funds for the little guy

NEW YORK (Reuters) – John McCormick has been on a mission for the past five years: to bring hedge funds to the masses.

That may seem like a tough sell. Traditional hedge funds, those lightly regulated investment pools open exclusively to large institutions and rich individuals, have been duds lately, trailing the U.S. stock market’s performance every year since 2009 by an average of 10 percentage points, according to Hedge Fund Research Inc data.

Jul 22, 2015

Blackstone champions hedge funds for the little guy

NEW YORK, July 22 (Reuters) – John McCormick has been on a
mission for the past five years: to bring hedge funds to the
masses.

That may seem like a tough sell. Traditional hedge funds,
those lightly regulated investment pools open exclusively to
large institutions and rich individuals, have been duds lately,
trailing the U.S. stock market’s performance every year since
2009 by an average of 10 percentage points, according to Hedge
Fund Research Inc data.

Jul 17, 2015

Symphony’s Wall Street messaging system aims to widen reach

NEW YORK (Reuters) – Symphony Communication Services LLC, a Wall Street-backed messaging and information startup, is about to start offering its product more widely.

The company, which has more than 30,000 users in a “beta” version of its product, will roll out a new interface and iPhone application for them on Monday, Chief Executive David Gurle told Reuters in a recent interview. Most of the current users work at one of the 14 financial firms that invested $66 million in Symphony last fall.

Jul 9, 2015

U.S. bank earnings to be hit by bond trading slump -analysts

NEW YORK, July 9 (Reuters) – Many Wall Street banks are
expected to report underwhelming second-quarter results next
week, after light bond market activity in the spring worsened
into a downturn by June, analysts said.

Investor worries spanned the globe last quarter, ranging
from fiscal woes in Greece to crashing stock markets in China,
to concerns that the U.S. Federal Reserve will not be able to
raise interest rates later this year.

Jun 25, 2015

Dataminr finance chief departs unexpectedly – sources

NEW YORK, June 11 (Reuters) – Dataminr Inc, a technology
company that alerts traders, government officials and
journalists to important tweets, has lost its chief financial
officer.

The abrupt departure of Tania Secor, who had been CFO since
November 2013, comes a few months after the company raised a
third round of funding from high-profile investors, valuing the
company at $700 million.

Jun 11, 2015

Dataminr finance chief departs unexpectedly: sources

NEW YORK (Reuters) – Dataminr Inc, a technology company that alerts traders, government officials and journalists to important tweets, has lost its chief financial officer.

The abrupt departure of Tania Secor, who had been CFO since November 2013, comes a few months after the company raised a third round of funding from high-profile investors, valuing the company at $700 million.

Jun 9, 2015

Morgan Stanley’s Fleming says Fed may hike rates twice in ’15

NEW YORK (Reuters) – One of Morgan Stanley’s (MS.N: Quote, Profile, Research, Stock Buzz) most senior executives said he believes the U.S. Federal Reserve will begin lifting its interest rate targets in September – and may raise them a second time before the end of the year.

“There’s a lot of momentum in the U.S. economy and animal spirits – that wonderful phrase – seem to be kicking in,” Greg Fleming, president of Morgan Stanley’s wealth and asset management businesses, said in New York at the Reuters Wealth Management Summit on Tuesday.

Jun 9, 2015

Morgan Stanley adds more banking services for wealth clients

NEW YORK (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) has ambitions to become a full-service bank for its wealth management clients, and has begun offering credit cards, debit cards and an array of cash-management products and services, two senior executives said on Tuesday.

“We basically want to do with our existing clients whatever they might be able to do with a retail bank,” Greg Fleming, president of Morgan Stanley Wealth Management, said in New York at the Reuters Wealth Management Summit. “Really everything that the client is focused on from a financial services standpoint, we want them to do it with Morgan Stanley.”

Jun 2, 2015

Goldman executives take victory lap in debate over business model

NEW YORK, June 2 (Reuters) – Senior Goldman Sachs Group Inc
executives took a victory lap on Tuesday, telling an
investor conference that the bank’s recent results show they
have been right all along about its trading-heavy business
model.

Goldman’s top brass have been arguing for years that a
business lull that began in 2010 was “cyclical” and would
eventually end. Volatility would pick up again, they said, and
clients would go back to trading and doing big deals. The bank
might regret dramatic changes that rivals were making, like
exiting certain trading businesses, they said.

May 29, 2015

Exclusive: Stifel in lead to buy Barclays’ U.S. wealth unit – sources

By Lauren Tara LaCapra and Jessica Toonkel

(Reuters) – Investment bank Stifel Financial Corp (SF.N: Quote, Profile, Research, Stock Buzz) is in advanced negotiations to acquire Barclays Plc’s (BARC.L: Quote, Profile, Research, Stock Buzz) U.S wealth management unit, according to three people familiar with the situation.

Stifel is now negotiating key aspects with Barclays, although a deal is not certain and Barclays could go back to other bidders that have made offers, the people said this week.