Former Salomon Execs Set Up Firm in London
LONDON - Five former Salomon Smith Barney Inc. executives, including two foreign exchange chiefs, have set up a fund management firm for institutional investors.All five left Salomon this year after Travelers Group, which owned the securities firm, merged with Citicorp last year. They are all shareholding partners in the new London-based firm, Rubicon Asset Management Ltd.
Rubicon began trading in global fixed-income securities, currencies, and equity indexes on Nov. 23. Its investors are mainly in the United States, said Paul Brewer, chief investment officer.
Mr. Brewer was co-head of foreign exchange for Salomon Smith Barney and Salomon Brothers. He left Salomon in March after 13 years at the firm.
The other partners are Joseph Leitch, who was co-head of foreign exchange with Mr. Brewer; Jeffrey Brummette, who was a managing director of foreign exchange at Salomon Smith Barney.
Bob Greenshields, also a managing director at Salomon Smith Barney; and Vilas Gadkari, the managing director and chief investment officer of Salomon Brothers Asset Management Ltd.
Mr. Brewer said the five invested their own money.
- Bloomberg News
On-Line Home Lender Registers to Do an IPO
CHARLOTTE, N.C. - LendingTree Inc. said Wednesday that it has filed a registration statement for an initial public offering with the Securities and Exchange Commission.LendingTree is a leading Internet-based mortgage marketplace that collects consumer requests and matches them to underwriting criteria of more than 90 lenders. In the filing LendingTree set its market value at about $36 million and said it planned to offer $30 million of common shares.