Tourmaline Partners, LLC, one of the world's leading outsourced trading solutions firms, today announced the hire of Rowley Aird as Managing Director, Europe. Based in London, Aird will support Tourmaline’s continued growth in the EMEA region.
Cracks are starting to appear in Hong Kong's status as Asia's financial hub. As protests continue to rage on over a now-withdrawn bill that would allow Hong Kong residents to be extradited to mainland China, the economy has suffered. Retail sales in the city have slumped and tourists are staying away, and the impact of the skirmish on Hong Kong's economy has prompted some economists to warn of a recession.
Broker dealers and asset managers are undergoing a period of significant and radical change, largely driven by regulation, advancements in trading technology and the impact of passive management. As if these challenges weren’t enough, equity commissions are down 45% since 2009. In no uncertain terms, players on both sides of the fence are being forced to rethink past practices.