The markets are rigged, Telus to fight Mason request, new Hutchin Hill fund, P&G’s problems bigger than Ackman can solve and more
By Chris ClairWhat’s news around the hedge fund industry for Thursday, July 12, 2012:
Around the web
LIBORious I: Will Tucker get top Bank of England job? (Reuters)
LIBORious II: New York Fed to release LIBOR documents Friday. (Reuters)
LIBORious III: The market has spoken, and it is rigged. (NYT’s Economix blog)
LIBORious IV: European investors reluctant to chase LIBOR compensation. (The Trade News)
Danica Pension to increase alternatives investment by nearly €2 billion. (IPE.com)
France, Germany tax evasion inquiries target Swiss bank clients. (Los Angeles Times)
New reporter? Call him ‘Al’, for algorithm. (Agence France Presse)
TMX in talks to buy Direct Edge. (WSJ.com)
Telus will fight Mason Capital’s court petition for access to voting instructions. (Canadian Press, via News 1130.com)
Falcone to control public company. (WSJ.com)
Hutchin Hill Capital starts fund focused on long/short credit trading. (WSJ.com)
Hedge funds largely flat in June, shed $50 billion. (Dow Jones Newswires, via Nasdaq)
Bruce Karpati: The SEC’s enforcer speaks. (Pensions & Investments)
Goldman protests Elliott Management’s bid for Lehman brokerage’s cash. (WSJ.com)
Seabreeze’s Doug Kass says P&G’s problems bigger than Ackman can solve. (WSJ’s MarketBeat blog)
Hutchin Hill posts modest gains despite bet against JPMorgan. (WSJ.com)
Omega’s Leon Cooperman backs Romney, assails Dodd-Frank Volcker rule. (FINS)
Leon Cooperman on how to succeed in business (by really trying). (FINS)
U.S. grain trade wants answers in PFGBest broker scandal. (Reuters)
CME to make farmer insurance fund available to Peregrine clients. (Dow Jones Newswires, via Nasdaq)
As financial scandals mount, individual investors flee stocks. (Forbes)
Wall Street musicians trade pinstripes for chords. (DealBook)
Inconsistency in derivatives rules to increase costs: BNY Mellon. (IPE.com)
Property debt funds to proliferate, diversify: Henderson. (IPE.com)
Government documents indicate Mitt Romney continued at Bain Capital after date when he says he left. (Boston Globe)
People moves
SEB appointed Peter Herrlin as head of prime brokerage in London. He takes over for Atilla Olesen who moved to Denmark to take a different position with SEB. Herrlin has been with SEB since 2010, according to a news release from the firm.
Ernst & Young LLP hired Julie Canty and Carlos A. Schmidt as partners in its asset management tax practice. Canty previously worked in Deloitte Tax LLP’s hedge fund group. Schmidt was with the Passthroughs group of the National Tax Office of Delolitte Tax LLP, according to a news release from the firm.
Credit Suisse hires Neil Sherman to manage large hedge fund relationships. (Dow Jones Newswires, via Nasdaq)
