Hints and tips:
...He says of the “few hundred” clients in Coutts’ investment club, around two-thirds have built and sold their own businesses and 10 per cent are private equity or hedge fund professionals....
...The capital shortfall identified last May triggered a disastrous six months for the Co-op Bank, which was rescued by its hedge fund investors at the end of last year and posted the worst full-year loss in...
...Some were concerned that the hedge funds would “change the character of the bank and not focus on the values and ethics that are important to our customers”, he said....
...expand market share in current accounts and mortgages ——————————————- Metro Bank Launched in UK: 2010 Ownership: Private investors including its chairman Vernon Hill, the billionaire Reuben brothers and hedge...
...Two large investors, hedge funds Silver Point and Perry Capital, increased their holdings and were given the right to nominate a director to the bank board....
...senior civil servant, leads an independent review into events at the bank November 4: The Co-op Group announces a radical restructuring of the bank that involves handing a 70 per cent stake to a group of hedge...
...During that time its reputation has been repeatedly shaken – first by the decision to hand a majority stake to a group of aggressively commercial hedge funds; then, more severely, when its former chairman...
...In January it raised £40m from two leading hedge funds – Toscafund and Lansdowne Partners – helping to fuel growth in retail and small business lending and diversify its investor base....
...It is offering to exchange £5bn of bonds held by institutions, including a number of hedge funds, for new “additional Tier 1 securities”....
...After months of tense and often hostile negotiations with a number of hedge funds that owned much of the group’s debt, a restructuring deal was agreed minutes ahead of a 5pm deadline one Sunday in November...
...He oversaw one of the most dramatic periods in the lender’s history after a sweeping recapitalisation resulted in its mutual parent losing control of the bank to US hedge funds and other bondholders....
...Private equity and hedge funds have been good news for Europe’s bad banks....
...The Co-op Bank was recapitalised in December, and a 70 per cent stake handed to bondholders, including hedge funds....
...The recapitalisation forced the Co-op Group to reduce its stake in the bank to 30 per cent – and hand the remaining 70 per cent to institutional bondholders, including several US hedge funds, in exchange...
...He at first refused to engage with the hedge fund investors, claiming there was no “plan B” before backing down when it became clear they had a more workable solution to save the bank....
...Key board members: a closer look Niall Booker Having been appointed by Euan Sutherland, former Co-operative Group chief executive, Mr Booker is a key Co-op reformer, writes Sharlene Goff....
...The bank launched a rights issue to raise the funds from existing shareholders, including the Co-op Group, which has a 30 per cent stake, and a clutch of hedge funds and other institutional investors....
...Having completed the bank restructuring, which resulted in the Co-op handing a 70 per cent stake to bondholders, including several hedge funds, Mr Sutherland is attempting to cut the group’s £1.2bn of net...
...It has moved to diversify its holdings in recent years, moving into assets such as hedge funds, in an attempt to boost returns....
...Two leading hedge funds have invested in Aldermore, a small bank that launched in the UK in 2009, in the latest sign of investor appetite for British lenders....
...The Co-op Bank, which is now 70 per cent owned by bondholders, including several US hedge funds, is immersed in a sweeping restructuring that will shut down at least 15 per cent of its branches and mark...
...The Co-op Group’s stake in the bank reduced to 30 per cent as a result of its smaller contribution, with the remaining 70 per cent handed to creditors including several hedge funds....
...Instead of moving to another big bank, they’re choosing to go into a corporate, private equity or a hedge fund, or they’re choosing to go to a smaller advisory boutique.”...
...Meanwhile, they say smaller lenders – including Aldermore, OneSavings and Metro Bank – might attract more sophisticated investors such as hedge funds that like the growth prospects of the challenger banks...
...The Co-op said on Tuesday that 625, or 97.6 per cent, of its larger creditors – including the hedge funds represented by the LT2 bondholder group – submitted their votes on Monday....
International Edition