Clients were informed of the turn of events today in a rather terse email that may or may not have concluded, “So that’s all, don’t let the door hit you on the way out.”
John W. Henry & Co., a trading firm controlled by the principal owner of baseball’s Boston Red Sox, told clients it will stop managing their money amid dwindling assets and slumping returns. “This is to notify you that JWH has determined to cease managing client assets effective December 31, 2012,” Amy B. Hanson, a marketing manager of the firm, wrote in an email to clients on Friday. “We will not be providing performance information going forward.” John W. Henry said it will continue to do some trading for its own account. The firm, which managed more than $2.5 billion in 2006, today oversees less than $100 million, Mr. Henry said in an email.
Not sure if the word has gotten out yet, but yesterday afternoon social networking site Facebook filed to go public. Almost as exciting as the news itself (for those who reach self-induced stroke levels of excitement over such things) was the answer to the burning question vis-à-vis which bank would win the coveted and lucrative […]