Tue, Jan 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Top three executives at GLG restore base salaries and bonus rights after year of strong performance

Thursday, January 07, 2010

amb
From the Opalesque team:

GLG Partners executives Noam Gottesman, Emmanuel Roman, and Pierre Lagrange have restored their salaries to their former levels, after agreeing to a one-year cut that took their individual paydays down to $1 and halted any bonus payments during 2009.

According to the SEC filing, the salaries were restored pursuant to the terms of employment agreements, which will give each executive a salary of $1m and additionally restore bonus claims.

One change documented in the filings was the shifting of payments to Gottesman, who will receive at least $600k from the New York-based corporation GLG Partners Inc, and only $200k from the London-based GLG Partners LP.

2009 performance for the firm was strong, with GLG being touted as one of the years many “comeback kids”. The Telegraph in the UK reported returns for the market neutral fund were up 77.8%, the emerging markets fund up 20.8% and the Alpha Select fund up 20.8% (all through month-end November).

At the time of the salary cut in April 2009, the directors were all reported to be substantial shareholders in the public company, hoping that recovery of share prices, which were hard hit in 2008, would be rewarded by the 2009 performance. Share prices closed on Wednesday at $3.45, higher than their close a year earlier at $3.30, but lower than their 2009 height of $4.61. – KB

Emmanuel Roman participated in the Opalesque 2009 London Roundtable. To access the Roundtable re......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised