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Reuters – DE Shaw & Co, one of the world’s largest hedge fund managers, fired about 25 administrative and support staff on Tuesday and reassigned other employees in an effort to boost efficiency, people familiar with the situation said.
The job cuts represent a small portion of the New York-based firm’s 1,700 employees and do not affect the "front office," according to the sources, who were not authorized to speak on personnel matters by closely held Shaw.
Reuters – Multibillion dollar hedge fund firm Magnetar Capital has shut its London risk arbitrage desk and cut seven jobs, the firm told Reuters on Monday, as the industry goes through its biggest crisis.
A spokesman said four traders and three support staff had left the 15-person London office of Magnetar, which runs multi-strategy hedge funds.
"There’s been an appropriate reduction in the office to reflect the decision of the firm not currently to do risk arbitrage out of its London office," the spokesman said.
Vineland Daily Journal – So Mark Cuban — internet billionaire, Dallas Mavericks owner, blogging geyser — is in the soup for alleged insider training, the feds claiming he saved himself $750,000.
That’s chump change. It wouldn’t even pay his NBA fines. But the folks down at the Securities and Exchange Commission can be a little touchy.
The upside to all this, though, is we could well be treated to another episode of one of the more entertaining grudge matches in the public domain.
