Jeffrey Goldfarb is the U.S. Editor of Breakingviews. Based in New York, he coordinates coverage in the region, while frequently writing about Wall Street, private equity, M&A and the media and tech industries. Before becoming a columnist in 2007, he covered banking, mergers, international trade, healthcare and the internet for Reuters and BNA. From London, Jeffrey led the European corporate finance team for Reuters and coverage of the continent's media sector. He has a master's in journalism from Columbia University and a bachelor's degree in finance from The George Washington University. Follow Jeffrey on Twitter @jgfarb
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Bankers there face fresh limits on investing in stocks, bonds and hedge funds. Goldman knows how easy it is to cross a line when treading close to it. Why Wall Street dealmakers can own individual securities at all is the real mystery that speaks to a culture loath to change.
Receivers are shopping London’s pickle-shaped edifice for $1 bln. Bankruptcy can’t undo its effect on the skyline. Now, though, the glass-sided Gherkin also will reflect back to City bankers and traders an ill-advised currency hedge, a lasting monument to the dangers of avarice.
A new $5 bln Amsterdam-listed fund from the Pershing Square founder should dust one in London run by his Third Point nemesis. Ackman’s lower fees and ease of valuation offset questions over governance and discount controls. The hedgie peloton has a new leader to follow.
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