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Another Rough Month For Financial-Services Jobs

July 3, 2008 - For professionals on Wall Street, the June jobs number confirmed what many already knew: The financial-services segment of the US economy lost jobs last month.

Mitsubishi UFJ Growing Private Placement Presence

July 1, 2008 - Mitsubishi UFJ Securities (USA) Inc. said Tuesday that it hired Conrad Owen to run its new Private Capital Markets group, a move that is designed to expand into an area of finance that is expected to see heightened activity amid tightening credit market conditions.

HFSB Names Borges New Chairman

June 26, 2008 - The Hedge Fund Standards Board, set up to monitor conformity to hedge funds best practice standards, has appointed former Goldman executive Antonio Borges as its first permanent chairman.

Citi Hedge Fund Exec Leaving Firm

June 20, 2008 - Citigroup’s head of hedge fund services, Steve Bowman, has decided to leave the firm, according to a memo from Citi’s James Forese, co-CEO of markets & banking.

Homebuilder WCI Prepares For Other Options

June 16, 2008 - WCI Communities said it has formed a special committee of its board in order to review alternative restructuring proposals that it might receive from potential investors.

FBR Execs Starting New Mortgage Fund

June 13, 2008 - Michael Youngblood and Steve Gaenzler are leaving FBR Investment to start a new investment management and advisory company, and will launch a mortgage opportunities fund that will specialize in mortgage loans and securities.

Citi Plans To Restructure Old Lane

June 12, 2008 - As investors continue to redeem shares, Citigroup is restructuring its hedge fund Old Lane Partners and its multi-strategy hedge fund in hopes of retaining talent and creating synergies among the company’s trading platforms.

Bear's Distressed Debt Team Joins Tudor

June 11, 2008 - A team of distressed debt bankers from Bear Stearns is joining hedge fund Tudor Investment Corp. to lead a new investment management business specializing in credit-related strategies. Gregory Hanley and Alan Mintz, most recently co-heads of Bear's distressed debt group, will helm the unit, which will eventually spin off from Tudor.

BNP Buys BofA's Equity Prime Brokerage Unit

June 10, 2008 - The transaction, which will make BNP one of the leading prime brokers in the US, is subject to regulatory approval but is expected to close in the second half of this year.

Ahab Capital Prepares Distressed Fund

June 9, 2008 - Ahab Capital Management will launch a distressed debt hedge fund next month. Ahab's new fund will invest in companies undergoing restructuring processes and will launch with $25 million in assets.

Stocks Hammered On Jobs Report, Surge In Oil

June 6, 2008 - Stocks headed into the weekend in poor fashion, whacked by a big jump in the nation’s unemployment rate and another spike in oil prices. The Dow shed more than 350 points.

Merriman Curhan Names Thrift COO Of Asset Management

June 5, 2008 - Merriman Curhan Ford, an investment banking boutique, has hired Jack Thrift as chief operating officer for Merriman Asset Management. He comes from Pacific Growth Equities.

Man Group's Fink Retiring

May 30, 2008 - Stanley Fink, the former CEO and current deputy chairman, is departing the Man Group hedge fund after 21 years.

Citadel Continues Bulge-Bracket Recruitment

May 28, 2008 - Hedge fund manager Citadel Investment Group announced it hired Bill King as a senior managing director and head of securitized products. He was most recently JPMorgan's global co-head of securitized products. King's appointment follows those of three other bulge-bracket bank veterans last month.

Hedge Fund GLG Hires Merrill Portfolio Manager

May 23, 2008 - Hedge-fund group GLG Partners said Friday it has hired Warren Touwen from Merrill Lynch as a portfolio manager in its London office.