RBS slapped with $50M fine in Conn.

A federal judge in Connecticut this week sentenced the Royal Bank of Scotland with paying $50 million as part of a plea agreement following charges that its Japanese subsidiary manipulated interest rates. Altogether, RBS accumulated $612 million in penalties for the actions of 20 traders found to have been rigging the Japanese Yen London Interbank […] [Read More]
Categories: Banking, RBS, Wall Street
Edward Lampert is the founder of ESL investments, a hedge fund with offices on Greenwich Avenue, and chairman of Sears Holdings Corp. through his fund's controlling investment in the retail chain's parent company.
Photo: Contributed Photo, ST

Ex-Greenwich hedge funder suffers tough week

Updated to correct two typos noted by alert reader “William”: Last week wasn’t pretty for one billion-dollar name in Fairfield County hedge funding: Edward S. Lampert. The founder of ESL Investments — who caused a stir last year when he moved his firm’s HQ from Greenwich to Bay Harbour, Fla. — disclosed that for the […] [Read More]

Shelton High grad turned Citigroup CEO garnering praise

He was brought in, in part, to get Citgroup out from under the regulators’ microscope. He was brought in, perhaps, to be a little boring. Today, former Shelton High football star Michael L. Corbat — whom we profiled this past summer — got some rather unconventional praise in a New York Times piece that ran […] [Read More]

Attorney thinks SAC trader looking safe in trial

Today begins the latest step in the government’s probe of Stamford-based hedge fund SAC Capital Advisors — money manager Michael Steinberg goes on trial at Manhattan federal courthouse for insider trading charges. We at Financial Mines got an email from Chicago securities attorney Andrew Stoltmann, who thinks prosecutors face an uphill climb and are unlikely […] [Read More]

Stamford finance firm offers November profits to veterans fund

Mischler Financial Group — a California investment bank and institutional brokerage with a Stamford office — is pledging 10 percent of its November profits to Children of Fallen Patriots Foundation, a national outfit that gives college scholarships and school counseling to children of soldiers killed in combat. Mischler, which was founded in 1994, is owned […] [Read More]

Reported: Mandel’s Lone Pine launching fund, merging others

  Kudos to Institutional Investor’s Alpha for keeping tabs on October changes out of Stephen Mandel’s Lone Pine Capital, one of Greenwich’s — ergo the world’s — largest and most successful hedge funds. The 16-year-old firm, one of the so-called “Tiger Cubs” that emerged from Julian Robertson Jr.’s Tiger Management Corp., currently manages some $22 […] [Read More]
Categories: Banking, General, Wall Street

Banking giant to speak at Westport women’s lunch

Peyton Patterson, president and CEO of Bankwell Financial Group, will offer the keynote address at next Thursday’s second-annual Working Women’s Luncheon, put on by the Westport-Weston Chamber of Commerce. There are still spots open to register — $65 for chamber members; $75 for “future” members — for the event at The Inn at Longshore, which […] [Read More]

Attention world: Empire State Building getting new lighting

Yesterday, we here at Financial Mines gave the 4-week update on the Empire State Realty Trust stock — up about 9 percent, to $14.13 or so, since it began trading in early October. Today, we bring news of “a special surprise and gift to New York City and the world,” according to an ESRT release […] [Read More]