always with the three names

  • 18 Mar 2014 at 4:17 PM

Bonus Watch ’14: Barclays Senior Staff

Dealbook reports that, like the rest of the firm, Barclays top executives did pretty well for themselves this bonus season, despite the bank doing not so well re: earnings. As previously mentioned, Chief Executive Antony Jenkins found himself between a rock and a bunch of employees who said they would quit if they weren’t made to feel loved in the way of compensation this year, and decided he had not choice but to increase bonuses. Clocking it at the highest paid member of Team Barclays was Hugh Skip McGee III, which is probably a good thing, as he’s been known in the past to make a stink when things don’t go his way. Read more »

From 2010 to 2014, when he was working in Evercore’s mining and metals group, Frank Perkins Hixon Jr. occasionally found himself on the receiving end of material non-public information. Sometimes it was about forthcoming acquisitions. Sometimes it was about his own company’s earnings. In both cases, FPH Jr. knew he could sweeten things for himself by trading on the 411. Naturally, he didn’t want to get fired from Evercore for securities fraud, as it would put a damper on his ability to obtain inside info, so he couldn’t be too obvious. Placing the trades in an account under his own name was obviously out. Same went for anyone with whom he shared a last name, like his mom or dad. And that’s when the lightbulb went off: Read more »

Except:

  • Looking up laws regarding tinted windows
  • Coming up with a better disguise than James Lipton Meets Dave Navarro
  • Straying a bit further than two hours from his house, or to a place where local cops wouldn’t be able to recognize him, even with the aforementioned disguise

Read more »

At a gathering on Monday night at 740 Park Avenue in Manhattan for Diana Taylor, the girlfriend of New York City Mayor Michael Bloomberg, some of New York’s wealthiest considered a future without the billionaire in charge. There was considerable alarm about Bill de Blasio’s lead in the polls, along with his plan to raise taxes on New York’s upper echelon. “I fear for New York City if Mr. de Blasio gets elected,” said Muffie Potter Aston. “He just wants to tax everyone to smithereens. You have to be fair to everyone. You have programs that support all of the people of New York. But if you continue to tax what you see as the upper-income brackets, it’s still only going to be providing a small percentage of additional income.” […] “I would love to support a fourth term for Mike Bloomberg. So if we can float that, you can say Muffie Potter Aston wants a fourth term for Michael Bloomberg,” she said. Her concerns about de Blasio were shared by her cohort. “I’ve never understood why New Yorkers vote against their own interests,” said Jacqueline Weld Drake. “New York is a city of financial entrepreneurs, of genius stock traders and bankers. It would be a smart idea to keep it that way. It’s not a city that’s going to benefit from high taxes because people who have substantial incomes have a choice. They have a choice of venues. New Jersey beckons. Florida beckons. All kinds of other states who do better at job creation. We are really biting the hand that feeds us. No question about it.” [WWD via Dealbook]

Yesterday afternoon, federal prosecutors charged Fredrick Douglas Scott, the self-described “youngest African-American hedge fund founder in history,” with engaging “in a wire fraud conspiracy to steal hundreds of thousands of dollars from investors1,” which he used to buy Caramel Macchiatos, stay in hotels with views of the Holland Tunnel, and bail his friends out of jail.2 At this time, there appear to be several inconsistencies with the stories Scott has told clients and friends, which include:

  • The claim he manages $3.7 billion.
  • The claim he makes $96,000/year (“[Scott] filled out a financial affidavit claiming his salary is $96,000. Scott then told pretrial services he makes $200,000 but takes home only $50,000 a year, prosecutors said. Scott’s personal account at TD Bank showed over $700,000 “flowing in and out,” but as of April 30 his ACI Capital Group account was overdrawn by $91.24.”)
  • The claim his in-laws were his get out of jail free card (“Scott [has said] his wife’s parents have ‘Italian diplomatic status,’ and he boasted to the FBI that if he got in trouble, she would be his ‘ace in the hole.'”)

Will we find out that the above weren’t so much lies as misunderstandings in the days to follow? Maybe! At this time, however, the most pressing issue Scott may want to resolve would be that of his representation, which is currently not returning his calls. Read more »

If you were going to try and extort money Bear Stears alum, how would you do it? Would you call him at his new job and talk trash about his wife? Would you call his house and tell his wife he was running around on her with another woman? Would you call his mother-in-law in New Jersey and breathe heavily into the phone? Or would you bring out the big guns and start sending pizzas, sometimes 20 at a time, to his home in New Canaan, as a sign you really meant business? Donato Anthony Minicozzi chose all of the above. Read more »

Among the many reasons typically cited by hedge fund managers who choose to run their business out of Connecticut instead of New York are: 1. The room to stretch their shit out 2. Proximity to the Long Island Sound 3. Convenience for those already living in the area. Some probably also believe that the Fairfield County is slightly safer than New York City. That you’re not going to get jumped walking out of the office or beaten with a tire iron because you messed with someone’s man or woman. OR WILL YOU? Read more »

Have you ever gazed upon classical Greek philosopher Nassim Nicholas Taleb and thought to yourself, “That man has a body from the gods. I could never hope to match him in brains, but what about brawn? If only I could obtain the details of his diet and fitness regimen”? Well, friends, today is your lucky day. Despite still being on his second tour of self-imposed quiet time, Taleb granted several interviews to publications reviewing his new book, “Antifragile: Things That Gain From Disorder,” and, naturally, the topic of his physique came up, specifically the various ways he keeps it in such enviable shape. (He also touches on the exercises that led to him having a brain three times the size of the typical astrophysicist, though please note that these should be appreciated but not be attempted by average humans, who could hurt themselves quite badly.) Read more »