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Avenue Capital said to be in talks with Goldman Sachs traders
From Bloomberg.com: Avenue Capital Group, the hedge fund-firm run by Marc Lasry, is in talks to hire members of Goldman Sachs Group Inc.’s proprietary-trading business in the U.S., according to two people briefed on the discussions.
Lasry is pursuing the Goldman Sachs team run by Bob Howard to expand New York-based Avenue Capital beyond its focus on distressed and credit investing, said the people, who asked not to be named because the talks are private. KKR & Co., the New York-based buyout firm, and investment bank Perella Weinberg Partners LP also are negotiating with the group, people with knowledge of the matter said Sept. 8… Full article:
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JP Morgan starts moving proprietary traders to asset management unit
From Bloomberg.com: JPMorgan Chase & Co. began moving proprietary traders to its asset-management unit from the firm’s investment bank to comply with laws that restrict a bank’s ability to trade for its own account.
Proprietary traders in the equity, emerging markets and structured credit divisions will report to Mary Erdoes, asset management’s chief executive officer, in a new alternative investment management group for clients, according to a memo sent to employees today by Erdoes and investment bank CEO Jes Staley… Full ar...................... To view our full article Click here
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