Ex JPMorgan traders launch Sothic distressed debt fund (Fund News)
The former head of JPMorgan??s credit proprietary trading desk and a team of senior traders from the bank have set up a new London-based hedge fund to invest in the debt of troubled European and UK companies.
TPG sells remaining stake in Debenhams (Headlines)
Private equity group TPG has sold its 9 per cent stake in Debenhams for £100m, making it the second of the department store??s three former owners to exit the group.
The FSA said that a review of structured products backed by Lehman Brothers had found the sales advice was ??unsuitable? or ??unclear? in more than two-thirds of cases.
Madoff friend Picower found dead in pool (Fund News)
Palm Beach billionaire and philanthropist Jeffry Picower, described as the biggest beneficiary of Bernard Madoff??s fraud, died on Sunday after he was found lying at the bottom of the pool at his home, police said.