dChan - Q Origins Project Archive

Anonymous ID: 69abc5 June 27, 2019, 6:57 a.m. No.6854507 🗄️.is 🔗kun

tyb

skyking o7

Main Players in Natixis’s H2O, a Europe Fund Misadventure Redux

The latest turmoil in European finance is swirling around H2O Asset Management, a London-based firm that boomed since its founding almost a decade ago with the backing of French investment bank Natixis SA.

H2O’s funds hemorrhaged billions over four days amid gathering concern over investments in illiquid bonds tied to a controversial German financier. The asset manager is fighting back, aiming to assure investors it can meet redemptions. There were signs of some stabilization after the fund on Wednesday reported that withdrawals “markedly subsided.”

see this

H2O to Dump Toxic Debt in New Fund After $7 Billion Hit

https://www.bloomberg.com/news/articles/2019-06-26/after-7-billion-flees-h20-plans-to-bury-toxic-debt-in-new-fund

continued

Here are the main people involved in the saga, which has punished Natixis’s stock:

Lars Windhorst:

H2O’s relationship with Windhorst is at the core of the matter. The 42-year-old was a wunderkind of German finance in the 1990s, but later filed for bankruptcy. He bounced back with a company now called Tennor Holding, whose most well-known investment is the La Perla lingerie brand. The firm came to rely on private bond placements to raise money rather than conventional bank financing, and H2O has emerged as among the biggest buyers of this debt.

H2O’s crisis kicked off when Morningstar Inc. put H2O’s rating under review, citing concerns about the “liquidity and appropriateness” of some corporate-bond holdings. While Morningstar didn’t specifically mention Windhorst, H2O has defended the relationship, calling him “a reliable business partner.” It has also had to sell some Windhorst-linked debt.

'''morningstar Chair has been selling shares like a drunken sailor at port

https://www.secform4.com/insider-trading/1324069.htm

Bruno Crastes

Crastes runs H2O, and worked for years at Credit Agricole Asset Management, presiding over a boom in alternative, absolute-return funds in the early 2000s. In 2009, as chief investment officer for the U.K., he correctly predicted the euro would weaken from historic highs, though it didn’t quite make it to parity with the dollar as he forecast.

Francois Riahi

Riahi, a 46-year-old product of France’s elite ENA school with deep roots in government, didn’t have much of a honeymoon as Natixis’s CEO. H2O isn’t the only headache since he took the reins last June; in the fourth quarter of 2018, a push into complex derivatives in Korea known as autocallables went sour, losing almost $300 million, people familiar with the matter said at the time. Riahi’s previous roles included overseeing Natixis’s expansion in Asia and working at Groupe BPCE, the bank’s parent company.

Jean Raby

The Canadian, Harvard-educated lawyer oversees Natixis’s investment-management activities globally, and is knee-deep in the efforts at damage control. He has spent the bulk of his career in Paris, where he worked in Goldman Sachs Group Inc.’s office. Raby, 53, joined Natixis in 2017 after a stint as Alcatel-Lucent’s finance chief, replacing Pierre Servant. The division he oversees includes a series of well-known autonomous boutiques besides H2O, such as Harris Associates and Loomis Sayles in the U.S.

Laurent Mignon

Mignon, 55, was Riahi’s predecessor as Natixis CEO, spending a decade in the role; he now serves as chairman, as well as head of Groupe BPCE – a sprawling network of cooperative retail banks. Credited with helping salvage Natixis after the financial crisis, Mignon oversaw initiatives including the growing push into asset management.

rest at link

https://www.bloomberg.com//news/articles/2019-06-27/the-main-players-in-natixis-h2o-europe-s-latest-fund-debacle

Anonymous ID: 69abc5 June 27, 2019, 7:34 a.m. No.6854710 🗄️.is 🔗kun >>4991

>>6854680

Anonymous ID: 69abc5 June 27, 2019, 7:44 a.m. No.6854778 🗄️.is 🔗kun >>4803

>>6854765

these are epstein right?

will do ya a bundle and drop like branson

<3

Ex-UBS Official, Friend Get 3 Years in Insider-Trading Case

Abdel-Malek, Choucair must serve half of sentence in priso. London jury convicted pair on insider-trading charges

A former UBS Group AG compliance officer and her friend were sentenced to three years for insider trading after a London trial that featured accounts of champagne-fueled parties, burner phones and evidence stashed in a Chanel handbag.

Ex-UBS employee Fabiana Abdel-Malek, 36, and day trader Walid Choucair, 40, were sentenced Thursday in London, with a judge saying that they must serve at least half the term in prison.

The ruling caps an eight-week trial filled with details of lavish nights out in one of the city’s most exclusive nightclubs, and a network of traders who only spoke on burner phones. Abdel-Malek was accused by the Financial Conduct Authority of passing tips from confidential UBS databases to Choucair, who would use the data within minutes.

Judge Joanna Korner called Abdel-Malek a “gamekeeper” who used bank materials to become an “accomplished poacher.”

“It’s clear to me that you enjoyed and made full use of entry into the rather louche lifestyle that was being led by Choucair,” Korner said Thursday. “There is no question that both of your actions were deliberate, dishonest and committed over a period of a year. ”

Breach of Trust

The FCA had a lot riding on the case, its first prosecution in 2 1/2 years. The agency compiled a detailed timeline of the communication and movements of Abdel-Malek and Choucair, but didn’t present evidence that Abdel-Malek profited from the relationship.

“You Walid Choucair did corrupt Fabiana Abdel-Malek into committing these offenses and you were the one who in the end received the money,” Korner said. “But you Fabiana Abdel-Malek committed a gross breach of trust which I have already said will affect the reputation of UBS and without that breach taking place, these offenses could never have happened. ”

The defense accepted most parts of the prosecution’s case: that Abdel-Malek looked the deals up, that she texted him from her desk and that he traded the same stocks she was looking up. But Abdel-Malek and Choucair fiercely disputed what they discussed as well as denying that they met at times when the prosecution alleged Abdel-Malek told him about deals.

After some of the verdicts were announced in court Tuesday, Abdel-Malek broke down in tears. Choucair, standing next to her in a hoodie and faded jeans, maintained the gloomy look he had worn for most of the trial.

https://www.bloomberg.com//news/articles/2019-06-27/ex-ubs-official-friend-get-3-year-sentences-for-insider-trading?