Diamondback’s founders got their start at hedge fund manager Steven A. Cohen’s SAC Capital Advisors, which has also fallen under regulators’ scrutiny. SAC told its own clients last week that it would likely face civil securities fraud charges.© Steve Marcus/Reuters
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Great returns, no questions asked
SAC Capital Advisors chief Steven A. Cohen has been called the Michael Jordan of the investing world. But what if he is the Lance Armstrong?
According to the New York Times, the whiff of impropriety gathering around SAC Capital Advisors has some large investors withholding new deposits, but withdrawals have yet to occur.
UBS looking at $1-billion in fines for Libor rigging
Swiss bank UBS faces a combined fine of about $1-billion to settle charges of rigging the Libor interest rate benchmark, more than double what Barclays paid in a settlement in June over the same issue.
Starting a hedge fund ain't what it used to be
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Legg Mason to buy fund-of-hedge-funds firm Fauchier
U.S. asset manager Legg Mason Inc. announced on Thursday that it will acquire Fauchier from BNP Paribas Investment Partners.
Fauchier will be merged with Legg Mason's fund-of-funds firm Permal, creating a unit with $24-billion in assets under management.
Up to 2,000 Barclays investment banking jobs on the line
The Wall Street Journal is reporting that Barclays Plc plans to cut as many as 2,000 jobs in its investment bank as part of a broad restructuring of the company, likely concentrated in Asia and continental Europe.
Australian to head RBC investment banking
RBC Capital Markets has named Sydney-based managing director Dominic Hudson head of investment banking.