Market Volatility Impact On Hedge Funds and Investment Banks In Asia

September is usually a month of higher historical volatility, hedge fund news this month is no exception. News this month includes the legendary hedge fund powerhouse, Tudor Investment Corp, closing its Singapore office. On the flip side, Steve Cohen's Point 72 seems to have found a goldmine of talent in Asia from his earlier 'rant' on the lack of talents in hedge fund industry. (Link: Hedge Funds Under Attack as Steve Cohen Says Talent Is Thin).

There is much news on the investment banking front. Goldman Sachs cutting a quarter of investment banking jobs in Singapore and Hong Kong. Wells Fargo fiasco on opening fake customer accounts, Deutsche Bank being hit by a potential US$14B fine. Another German bank, Commerzbank, announcing job cuts of nearly 10,000 (~20% of their global workforce). Netherland's ING is also rumored to be looking to joining the club with cuts to thousands of jobs soon.

Link: Hedge fund Tudor said to close Singapore trading desk amid global cuts

Link: Cohen’s Point72 Goes on Biggest Ever Hiring Spree in Asia

Link: Commerzbank to Slash Jobs, Scrap Dividend in Broad Revamp

Link: ING plans major overhaul, cutting jobs and simplifying operations: FD