SAN FRANCISCO, July 31 (Reuters) - Oil and gas drilling company Rowan Companies Inc said on Friday the director designated by Steel Partners II LP had resigned from its board because the activist hedge fund's stake fell below 5 percent. Rowan agreed in February to expand its board to 12 members from 11 to accommodate a designee of Steel, which once held an effective 9.5 percent in Rowan as it
Former hedge fund manager Mark Bloom pleaded guilty yesterday to running a Ponzi scheme that bilked investors out of $20 million, The New York Post reported.
July 31 (Bloomberg) -- Hedge fund manager Mark Bloom pleaded guilty to U.S. charges that he stole at least $20 million from clients and lied to them, and that he helped sell illegal tax shelters while working earlier at BDO Seidman LLP.
Money managers investing in raw materials tracked by the Chicago-based company managed almost $11 billion by the end of June, compared with $10.1 billion three months earlier, data from the company show. Assets reached $11.1 billion in 2008.
Industry groups, the government and London mayor succeed in battle to defang proposed European directive Intensive lobbying by the City and ministers has succeeded in watering down a European plan to toughen the regulation of hedge funds and private equity firms. Industry groups, the government and London mayor Boris Johnson have battled against a directive which they claim could threaten
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