ADI, France's largest independent hedge fund manager, has gained regulatory approval for a fund of hedge funds joint venture it plans to run with Lombard Odier Darier Hentsch, the Swiss asset manager.

The move makes ADI one of only a handful of firms to offer both single manager hedge funds and funds of hedge funds. The firm has €5bn ($6.5bn) under management in its single manager funds.

William Hutchings

A&O Shearman boss Hervé Ekué: ‘My godfather was accused in a failed coup… he inspired me to be a lawyer’

A&O Shearman boss Hervé Ekué on skyrocketing pay rises: ‘We haven’t reached the top’

London Stock Exchange fires US employee after video of ‘racist’ altercation

Nomura taps Hiraoka and Tyce to lead global rates trading

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Japanese bank doubles up leadership of key markets division

Pimco Emea boss Craig Dawson returns to California for new role

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Christian Stracke, global head of credit research, will run Emea from bond giant’s London office

BNP Paribas flies in Lynagh from New York to head UK global banking

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Mark Lynagh is succeeding Matthew Ponsonby who has resigned from the bank

Once an heir apparent for Larry Fink, Wiedman now tops the list of potential successors to PNC chief Bill Demchak.

PNC Names Former BlackRock Star Mark Wiedman as President

The European Union has a plan to counteract the swathe of tariffs U.S. President Trump is planning to impose on foreign goods, European Commission President Ursula von der Leyen said.

EU Has Plan to Retaliate on U.S. Tariffs, Von der Leyen Says

The Japanese investment firm is entwining its fortunes with a company that expects to lose billions of dollars for years to come, in the hope that it will emerge as the leader in AI.

How Is SoftBank Funding Its Mega Investment in OpenAI? A Lot of Debt

The BlackRock CEO says he wants individuals to have better access to the menu of private and illiquid investments that have long been core holdings of pensions, endowments and other institutions.

Larry Fink Says Regular Americans Need Private Assets Too

The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

Goldman Sachs Lifts U.S. Recession Probability to 35%

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France's ADI expands with Lombard Odier

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