Big banks may be having to cut back, but small firms like Steve Schonfeld’s Schonfeld Group Holdings are growing. Since the crisis began, the firm’s owner has hired more than twenty traders from big banks, and he made $200 million last year. Plus:
“He just moved into a mansion near the Long Island Sound with its own nine-hole golf course. He has spent $90 million on the home, he says, and is currently erecting a poolside cabana designed to look like the Cove Atlantis resort in the Bahamas.”
It doesn’t yet have a bathtub shaped like a clam and an all-red billiard room with a giant stuffed camel and a disco room with its own disco dancers and a party room with fancy friends and a big backyard with Grecian statues, s-shaped hedges, and three swimming pools, but he’ll get there. One day.
Wall Street’s B-List Firms Trade on Bigger Rivals’ Woes [WSJ]
Big banks may be having to cut back, but small firms like Steve Schonfeld’s Schonfeld Group Holdings are growing. Since the crisis began, the firm’s owner has hired more than twenty traders from big banks, and he made $200 million last year. Plus:
