GLOBAL - SG, the corporate and investment banking division of Société Générale, has its sights set firmly on the hedge fund market with the formation of a new team, SG Hedge Fund Group.
The group brings SG's cash, equity/credit derivative and equity finance capabilities under one roof to form a hedge fund sales team to be based in London and New York. The firm is targeting 15 staff in total.
As part of the process, the firm has hired Tai-Mey Lim as head of relative value research. She joins from investment bank Lehman Brothers where she was a director working as a relative value analyst on European situations.
The new project is heavily backed by senior management which reflects the firm's determination to become a major hedge fund player, said SG.
Marc Litzer, head of global investment banking, said: “When I consider SG’s strengths within investment banking, I strongly believe it can be a significant partner to the hedge fund industry and we are willing to commit the necessary resources to achieve this.”
But the firm is not the only one to eye a bigger slice of the hedge fund market. This week Lehman Brothers also announced its majority stake in a new hedge fund asset management firm, Edgeworth Capital, based in London.
By Madhu Kalia
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.