Late Lunchtime Links: Hedge fund manager finds it's actually not very pleasant going to Hong Kong
&utmThings are looking up for London. Not only is the Pope visiting, but a hedge fund manager who'd decided to commute to Hong Kong has discovered this is a bad idea.
Financial News reports that David Helm, CEO of Sofaer Capital, can't cope with living and working in Hong Kong while his family stays in London. This kind of "nomadic existence" has proven "impractical," says Helm. He's 'not in a position' to move his family to HK, so has opted to leave Sofaer instead.
London's financial primacy will clearly be safeguarded by the wives of bankers and hedge fund managers who can't hack moving to HK. In a further promising sign, JPMorgan is said to be contemplating Lehman's old building in Canary Wharf for its new headquarters, rather than several large chalets in Geneva. However, Standard Chartered is 'pressing ahead with contingency plans' to escape the City if necessary.
A water pipe has burst on JPM's London trading floor. (Dealbreaker)
Brevan Howard launches new Ucits funds without actually hiring anyone, but does hire new Asia-Australia marketer based in Mayfair. (Financial News)
RAB Capital is cutting staff. (FinAlternatives)
Private banks decide they're better off in Mayfair. (Financial News)
Astbury Marsden said the number of new City job vacancies created in August increased 7 percent month-on-month to 5,031. (Reuters)
Women at Bear Stearns had it worse than Goldman [puking]. (Daily Beast)
Gordon Brown's former spokesman is to become lobbyist for banks. (Guardian)
"We do not believe that hedge funds were a primary driver of the last financial crisis, but we think it's important to realize hedge funds could mutate and develop into things that are systemically important." (Bloomberg)
Wall Street seems to be evolving and maturing in its attitudes toward gays. (NY Times)
Participants performed more aggressively in a financial simulation game if they believed they had been given a shot of testosterone - even when they had been given a placebo. (Guardian)
