New Castle Set Back by Galleon Liquidation, Loss of Fund Venture With UBP New Castle Funds LLC’s efforts to survive the arrest of its co-founder in the Raj Rajaratnam insider-trading case were set back as a Swiss bank ended a partnership and Rajaratnam decided to liquidate his funds.
Galleon Insider-Trading Informant Roomy Khan Said to Have Worked at Intel Roomy Khan, the informant who is cooperating with prosecutors in the insider-trading case against Galleon Group LLC co-founder Raj Rajaratnam, previously worked at Intel Corp., according to two people who know her.
Legg Mason Posts Second Straight Profit as Markets Rally, Outflows Slow Legg Mason Inc. posted its second straight quarterly profit as funds including those run by Bill Miller won back clients and the market rally boosted assets.
New Mexico Investment Chief Quits After State Drawn Into Pay-to-Play Probe New Mexico’s chief investment officer resigned after the state was drawn into a nationwide investigation of the fees paid to politically connected agents by those seeking to win investment-management work.
Stanley Chais Defends SEC Lawsuit by Blaming Agency’s Alleged `Conduct’ Money manager Stanley Chais, denying allegations in a U.S. Securities and Exchange Commission lawsuit against him stemming from Bernard Madoff’s Ponzi scheme, said the agency itself is to blame for failing to stop the fraud.
State Street Says CEO Logue to Retire in March; Hooley Will Become Chief State Street Corp., the world’s largest money manager for institutions, said Chairman and Chief Executive Officer Ronald Logue will retire on March 1 and be replaced by President and Chief Operating Officer Jay Hooley.
PAI Partners Said to Offer 50 Percent Cut in Fund to Resolve Investor Row PAI Partners, whose two top executives stepped down in July, offered to allow investors to reduce their commitments to its 5.4 billion-euro ($8.1 billion) buyout fund by as much as 50 percent, two people familiar with the matter said.
Buying Into Cash-Distressed Firms Offers Investors Way to Follow Buffett John Edelman, a former business owner, is taking Warren Buffett’s advice by investing in what he knows: home furnishings.
Banco Santander Failed to Act on Madoff Concerns, Investor Lawsuit Claims Banco Santander SA, the Spanish bank that lost about $3.2 billion in Bernard Madoff’s fraud, failed to protect clients after discovering in 2002 that the con man deviated from industry standards by acting as custodian of his own funds, investors said in a revised U.S. lawsuit.
Property Bondholders May Lose $1.6 Billion in U.K.’s First Forced Sales Investors in the first U.K. commercial mortgage bonds to be liquidated since the financial crisis began may lose as much as 1 billion pounds ($1.6 billion) after values of properties backing the two deals collapsed.