A new report by the Professional Risk Managers’ International Association (PRMIA) and Bloomberg has found that while the majority (79%) of the firms with LIBOR exposure are prepare for the transition, there are still big barriers to using new derivatives based on risk free rates (RFR).
The co-head of Blackstone Inc.’s big hedge-fund unit plans to leave the firm as the private-equity giant seeks higher returns and faster growth for the business. Blackstone veteran John McCormick told the firm last week he had decided to resign, the firm told The Wall Street Journal. His co-head, former Brown University endowment chief and hedge-fund manager Joseph Dowling, who joined the firm in January, will become sole head of Blackstone Alternative Asset Management, the world’s largest funds-of-hedge-funds business.
The London Stock Exchange Group confirmed a 25% pay increase for its CEO David Schwimmer on Monday, saying most shareholders backed the package to reflect the exchange’s $27 billion takeover of data and analytics company Refinitiv. Shareholders at the annual meeting in April voted by 76.5% in favour of the pay package, but given that 23% had rejected the pay increase, the board had said it would consult further with shareholders.
In case you didn’t know, October is Cybersecurity Awareness Month. So today, we thought we’d take a look at some of the cybersecurity-related exchange-traded funds (ETFs) that now exist, see how they’ve grown, and how they trade. Cyber ETFs are just one of a growing group of increasingly popular “thematic ETFs.” Thematic ETFs give investors quick access to a diversified basket of stocks with exposure to a specific investment or economic theme.
Here are the latest new hires, appointments and promotions in the world of trading, investing, financial technology and regulation.