The Morning Brief: Protesters March to Tudor Founder’s Greenwich Home

Demonstrators gathered outside the home of Greenwich, Connecticut-based Tudor Investment Corporation founder Paul Tudor Jones II on Sunday to protest income inequality. A group known as Hedge Clippers organized the protest, which took place at 11 a.m. and began with a march from the Greenwich library through town to Jones’ house. The official reason for the protest was described in press releases as drawing attention to the alleged hypocrisy between Jones’ anti-poverty Robin Hood Foundation and his political contributions, but the demonstrators also chanted about the minimum wage and raising taxes on the wealthy, according to a Greenwich Time report. At, writer Imogen Rose-Smith explains why she thinks Jones may not be the most logical target for the protesters — though she argues that as the election cycle heats up, we may see more demonstrations in the future.


Elliott Advisors, the British arm of New York-based hedge fund firm Elliott Management Corp., is planning to demand the appointment of three new directors of Scotland-based investment manager Alliance Trust, according to a Sunday Times report. Elliott Advisors reportedly has built up a 12 percent stake in Alliance over the course of five years and now plans to flex its activist muscle to shake up management at the firm, which has had disappointing performance in recent years.


London-based Man Group has given CEO Emmanuel Roman a 43 percent bump in his bonus, bringing it to $2.5 million, according to Bloomberg. The pay spike is reportedly meant to compensate Roman for the improvement in share price that Man Group — the largest publicly-traded hedge fund firm in the world — has experienced since he took his post. The firm’s assets under management grew 35 percent in 2014, to $72.9 billion, and shares have doubled since Roman became CEO in 2013. Shareholders are expected to vote on the bonus increase at Man Group’s general meeting on May 8.



The Federal Bureau of Investigation and the Manhattan U.S. attorney’s office are questioning people hired by William Ackman, founder and CEO of New York-based Pershing Square Capital Management, in connection with an investigation into alleged manipulation of Herbalife stock, according to the Wall Street Journal. Ackman, one of the industry’s most vocal activist investors, has been publicly critical of the Herbalife, which produces nutritional products, for years. The investigation is focused on whether people — including some Ackman hired — fabricated information about the company, in which Pershing Square has a large short position, in order to hurt its stock price.