Retailer Kohl’s Faces Fresh Call for Board Rejig from Activist Group Macellum (Reuters)
Oct 13 (Reuters) – Activist investor group Macellum Advisors is once again pushing for board seats at the struggling department store chain Kohl’s Corp (KSS.N) and the ouster of its chairman, according to a letter from the hedge fund to the shareholders on Thursday. Macellum owns about 5% of the retailer and wants its candidates to replace some of the long-tenured directors, including chairman Peter Boneparth and other members of the executive committee.
Billionaire Izzy Englander’s Hedge Fund is Hiring for More Than 100 Engineers and Developers. Here’s How to Get a Job at $57 Billion Millennium, According to a Top Recruiter. (Business Insider)
Millennium Management, which houses multiple trading pods across the globe, is looking for more than 100 engineers and developers to help expand its footprint in top technology hubs. Izzy Englander‘s $57 billion fund is just one of many quant shops battling it out with the finance industry and top tech companies for hot talent.
Ken Griffin Backs Ukraine’s Math Olympiad Elite Through New Fund (Bloomberg)
Citadel founder gives $3 million to a scholarship program for displaced Ukrainian students to continue their math and science education. Ihor Pylaiev has had a more intense year than most teenagers. In July, he achieved a perfect 42-point score at the International Mathematical Olympiad and was the overall champion. That was a victory he’d been working toward for years. Everything else has been unscripted: from his school in Kharkiv shutting down almost immediately after Russia invaded Ukraine, right up to this week, taking classes at the University of Cambridge.
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SFC Fines Hedge Fund Asia Research & Capital Management Limited $1.75m and Bans Former Senior Executive for Two Months (Hedge Week)
The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined hedge fund Asia Research & Capital Management Limited (ARCM) $1.75 million for failures relating to its non-compliance with the European Union’s short selling reporting requirements (EU Regulation) and to promptly notify the SFC of its material regulatory breaches. The SFC has also banned Billy Wong Yim Chi, ARCM’s former Head of Compliance and Operations and Manager-In-Charge (MIC) for Compliance for two months from 10 October 2022 to 9 December 2022). This is because ARCM’s failures to comply with the EU Regulation were directly attributable to Wong’s failure to discharge his duties as ARCM’s MIC for Compliance and a member of its senior management during the material time.
Bridgewater’s Former Executive Bob Elliott Launches New Hedge Fund ETF (Financial News)
Bob Elliott, a former member of Bridgewater Associates’ investment committee, has launched Unlimited, a new investment firm, along with Unlimited HFND multi-strategy return tracker ETF, the company’s first product. According to a memo seen by Financial News, Bruce McNevin is the co-founder and chief data scientist of Unlimited. McNevin, who is a professor of economics at New York University, previously served in data science positions at Clinton Group and Midway Group.
