Welcome to Bloomberg’s new Banking Industry Monitor, bringing to you the top news on the global banking industry with emerging trends, winners and losers and market opportunities. Sign up: bloom.bg/4e65HY2 From the first edition: The war for talent and coping with regulators were recurring themes this week, along with signs that the drought in deal-making is still a drag on profits. Read more: bloom.bg/3HwT1NE
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Bloomberg News reposted this
For almost two decades Dymon Asia co-founder Danny Yong was one of the best-performing hedge fund stars in Asia - and sometimes the world. But by 2019, after suffering three years of negative returns in a row, he forced to reckon with harsh reality. All the tricks, the tools and the grit that once worked were no longer enough. Rather than bet till the money ran out or returning the cash that was left to investors while becoming a 'family office', Yong and Dymon chose an arguably humbler path - rolling the hedge fund business into a truly Asian multi-strategy fund where other portfolio managers make the call and he plays strategist and coach to get the best out of them: this time taking on and often beating foreign giants from Millennium to Point72. This is the story behind that transition, and how some investors who had ignored Dymon because of its Asian roots are now seeking to allocate money because of them, thanks to US President Donald Trump's recent actions. https://lnkd.in/g9gUhpKG