Wed, May 27, 2015
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. News Briefs - Ergen says LightSquared plan unfairly favors hedge funds, Why hedge fund managers make good advisory clients, I learned a lot about dad-bros after spending 4 days in Vegas with 2,000 hedge funders[more]

    Ergen says LightSquared plan unfairly favors hedge funds LightSquared Inc.’s bankruptcy plan gives hedge funds that invested in the broadband company a leg up while blocking telecommunications firms from competing with it, a fund owned by Dish Network Corp. Chairman Charles Ergen said in

  2. Opalesque Exclusive: SEC approves proposed changes to Form ADV, '40 Act - comment period to follow[more]

    Bailey McCann, Opalesque New York: Hedge funds and providers of liquid alternatives will want to pay close attention to proposed reforms approved by the SEC yesterday. The changes will require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and

  3. Investing - Hedge funds buy swathes of foreclosed subprimes, force up rents, float rent-bonds, Hedge funds buy Actavis, Valeant. ETFs join the party, The most loved biotechs of big hedge funds, Stocks to buy ... according to hedge funds, Atlantic City bond offering attracts hedge funds as buyers, Okumus Fund Management discloses huge new Ascent Capital Group stake[more]

    Hedge funds buy swathes of foreclosed subprimes, force up rents, float rent-bonds From Boingboing.com: When a giant hedge fund is bidding on all the foreclosed houses in a poor neighborhood, living humans don't stand a chance -- but that's OK, because rapacious investors make great landl

  4. Institutions - Institutional investors turn to real estate, planes, Assets at Boston’s five biggest family nonprofits rise to $3.5bn[more]

    Institutional investors turn to real estate, planes From Joins.com: The National Pension Service and domestic emerging market specialists who did not know where to invest in a low interest rate environment are turning to other investments like the blue-chip real estate market abroad.

  5. Opalesque Exclusive: A lot of hedge fund investors are beginning to recognise the need for ongoing cyber threats monitoring[more]

    Benedicte Gravrand, Opalesque Geneva: Corporate Resolutions Inc. recently formed a strategic partnership with iThreat Cyber Group. The two companies have worked together for years, assisting clients when challenging

 

banner