Private equity groups see signs of stabilisation (Fund News)
Three of Europe??s biggest listed private equity groups have reported drops in the value of their investment portfolios for the first half of the year, while indicating they may be past the worst of the financial crisis.
James Davis, the chief financial officer at the Stanford Financial Group, on Thursday pleaded guilty to charges that he helped Sir Allen Stanford, the company??s founder, in an alleged $7bn Ponzi scheme.
The head of the FSA, Britain??s top banking watchdog, supports the idea of new global taxes on financial transactions, warning that a ??swollen? financial sector paying excessive salaries has grown too big for society.
Citadel seeks to recover $470m it is owed by Lehman (Fund News)
Citadel Investment Group, the Chicago-based hedge fund, is seeking to recover $470.5m it believes it is owed by the failed investment bank Lehman Brothers, according to court documents.