Latest news with #Mansell
Mint
2 days ago
- Business
- Mint
Balyasny Taps Ex-Deutsche Bank Basis Trader Jamie Mansell
(Bloomberg) -- Balyasny Asset Management has hired Jamie Mansell, who was co-head of European government bond trading at Deutsche Bank AG until recently, according to people familiar with the matter. Mansell, who specializes in the highly leveraged bond basis trade, made over €200 million ($228 million) for Germany's biggest bank in recent years, the people said, asking not to be identified discussing non-public information. He was previously with Morgan Stanley. He will join Balyasny's macro business as an associate portfolio manager later this year, one of the people said. Mansell — who co-headed EGB with Bennit Shah — and representatives for Balyasny and Deutsche Bank declined to comment. Some of the largest hedge funds employ the so-called basis trade, betting on price differences between cash Treasuries and futures. In order to profit from the tiny gap, traders typically borrow heavily, often 50 to 100 times the capital invested. The highly popular trade has ballooned, with recent estimates putting the amount staked on such bets at about $1 trillion — about double the amount five years ago. Deutsche Bank's fixed income and currency trading unit increased revenues by 17% in the first quarter, outperforming most peers, buoyed mainly by a strong rates business. The unit benefited from high demand for European government bonds as investors shifted money from the US to Europe, as well as from the revival of its rates business in the US. Dmitry Balyasny's multistrategy hedge fund, which manages about $25 billion, has been beefing up its trading desks by hiring several investment managers, with some of them being offered potential payouts of as much as $50 million. In April, the fund delivered gains of about 1% during the volatility around US President Donald Trump's tariff announcements. (Adds details of role at Deutsche Bank in third paragraph. An earlier version of this story corrected Mansell's title in the headline and first paragraph.) More stories like this are available on
Mint
2 days ago
- Business
- Mint
Balyasny Taps Ex-Deutsche Bank Basis Trader Mansell
(Bloomberg) -- Balyasny Asset Management has hired Jamie Mansell, who was co-head of European government bond trading at Deutsche Bank AG until recently, according to people familiar with the matter. Mansell, who specializes in the highly leveraged bond basis trade, made over €200 million ($228 million) for Germany's biggest bank in recent years, the people said, asking not to be identified discussing non-public information. He was previously with Morgan Stanley. He will join Balyasny's macro business as an associate portfolio manager later this year, one of the people said. Mansell and representatives for Balyasny and Deutsche Bank declined to comment. Some of the largest hedge funds employ the so-called basis trade, betting on price differences between cash Treasuries and futures. In order to profit from the tiny gap, traders typically borrow heavily, often 50 to 100 times the capital invested. The highly popular trade has ballooned, with recent estimates putting the amount staked on such bets at about $1 trillion — about double the amount five years ago. Deutsche Bank's fixed income and currency trading unit increased revenues by 17% in the first quarter, outperforming most peers, buoyed mainly by a strong rates business. The unit benefited from high demand for European government bonds as investors shifted money from the US to Europe, as well as from the revival of its rates business in the US. Dmitry Balyasny's multistrategy hedge fund, which manages about $25 billion, has been beefing up its trading desks by hiring several investment managers, with some of them being offered potential payouts of as much as $50 million. In April, the fund delivered gains of about 1% during the volatility around US President Donald Trump's tariff announcements. (Corrects Mansell's title in headline and first paragraph.) More stories like this are available on
Yahoo
3 days ago
- General
- Yahoo
Trump Pardons Florida Divers Who Set 19 Sharks Free
President Donald Trump has pardoned two divers who set 19 sharks free off the coast of Florida. Tanner Mansell and John Moore Jr. received full and unconditional pardons for their 2022 convictions for theft on Wednesday. In Aug. 2020, Mansell and Moore freed 19 sharks and a giant grouper caught on a long line around 3 miles off the Jupiter Inlet that they believed was an illegal fishing line. The line was actually licensed by the National Oceanic & Atmospheric Administration to ensnare sharks for research purposes. After freeing the fish, Mansell and Moore removed the long line, took it back to shore, and reported what they had done to state wildlife officials. 'We never stopped fighting, and justice has finally prevailed,' Moore's attorney, Marc Seitles, said in a statement. 'We are thrilled the White House considered our arguments and determined this was an unjust prosecution. We could not be happier for John and Tanner.' Mansell's attorney, Ian Goldstein, said the 'case never should have been filed.' He added: 'These gentlemen made an honest mistake and were trying to save sharks from what they believed to be an illegal longline fishing setup. I can't think of two individuals more deserving of a Presidential Pardon.' Federal prosecutors then charged Moore, the captain of a shark-diving charter boat, and Mansell, a crew member, with theft and they were convicted by a jury in 2022. The pair avoided going to prison but were ordered to pay $3,343.72 in restitution, and banned from voting in Florida, owning a firearm, or traveling without restrictions outside the U.S. Trump has a long history with sharks—and it was something he went on several bizarre rants about during his presidential campaign. In one memorable rally, Trump said the Democrats wanted to make boats electric, though the party of Joe Biden and Kamala Harris had made no such suggestion. Speaking at a rally in Las Vegas, Trump proffered an unlikely scenario in which the electric boat starts to sink while a shark circles mere yards from the vessel. He told the crowd he had asked a South Carolina businessman a hypothetical 'would you rather?' question between getting electrocuted in the boat or jumping out of the vessel towards the shark. Trump said the businessman told him, 'no one has ever asked me that question,' and then told the crowd he would 'take electrocution, every single time' over dying in a hypothetical shark attack. Since his inauguration, Trump has pardoned a range of colorful characters, including MAGA supporters convicted over the Jan 6. attack on the Capitol, a sheriff who accepted bribes in a cash-for-badge scheme, a tax cheat, and a reality TV couple. Last week the president was accused of making an 'unforced error' over some of the pardons which have moved from being fueled by ideology to obvious corruption.
Yahoo
3 days ago
- Politics
- Yahoo
President Trump pardons Florida divers who cut 19 sharks free from longline
WEST PALM BEACH, FL — President Donald Trump pardoned two Florida shark divers convicted of theft for cutting 19 sharks and a goliath grouper free from a fisherman's line they falsely assumed was illegal. The May 28 pardon granted full clemency to both John Moore Jr. and Tanner Mansell, who spotted the longline 3 miles off the Jupiter Inlet on Aug. 10, 2020, and pulled it ashore. The gear alone cost the vessel owner about $1,300 while the value of the lost sharks amounted to several thousand more. "Whether people believe in his politics or not, he chose to pardon me — somebody who deeply cares for the environment and only ever wanted to help," Mansell said in a text after his pardon. "I can't help but feel extremely grateful." Defense attorneys Marc Seitles and Ashley Litwin, who helped secure the men's pardon, said the decision to charge them anyway was a clear case of government overreach. While the two avoided prison time, their pardons mean they are no longer felons, restoring their rights to vote, own firearms, and freely travel abroad. USA TODAY has reached out to the White House for comment. Moore and Mansell said they thought they were doing the right thing by confiscating the line and releasing the sharks snagged by its hooks. The two said it is the reason they called state wildlife officers to report the line, and why they snapped photos as they freed the sharks and pulled the gear from the water, which were later used against them in court. The 3-mile longline belonged to one of only five vessels in the world permitted by NOAA to harvest sandbar sharks for research. Scott Taylor, captain of the boat the longline belonged to, called the National Oceanic and Atmospheric Administration and sought a criminal investigation. Federal prosecutors argued that the divers knew the line was legal and sabotaged it anyway to preserve shark populations for their commercial interests. Moore Jr. and Mansell were found guilty on Dec. 2, 2022, after jurors deliberated for three days — longer than the trial itself. U.S. District Judge Donald Middlebrooks later sentenced the pair to one year of probation and ordered them to pay $3,345 in restitution to the Fort Pierce fisherman whose equipment was destroyed. Trump wasn't the first to question Moore and Mansell's prosecution. During a 2024 hearing in the 11th Circuit Court of Appeals, two judges asked why the men were charged with a crime. Judge Barbara Lagoa said Assistant U.S. Attorney Tom Watts-Fitzgerald prosecuted the men "for reasons that defy understanding." She compared him to Inspector Javert — the relentless lawman from "Les Misérables" who pursued a man for decades over the theft of a single loaf of bread. "Moore and Mansell are felons because they tried to save sharks from what they believed to be an illegal poaching operation," Lagoa wrote. "They are the only felons I have ever encountered, in eighteen years on the bench and three years as a federal prosecutor, who called law enforcement to report what they were seeing and what actions they were taking in real time.' But the court held that, under federal law, it was enough that the divers intentionally took property that wasn't theirs. "Often in criminal defense, it's a long road where you feel like you're banging your head against the wall and no one cares," Litwin said. "This felt that way." This article originally appeared on USA TODAY: Trump pardons Florida divers who cut 19 sharks free from longline
USA Today
3 days ago
- Politics
- USA Today
President Trump pardons Florida divers who cut 19 sharks free from longline
President Trump pardons Florida divers who cut 19 sharks free from longline Show Caption Hide Caption Great white shark splashes close to shore Drone footage captured a great white shark swimming along the beach in Montauk, New York. WEST PALM BEACH, FL — President Donald Trump pardoned two Florida shark divers convicted of theft for cutting 19 sharks and a goliath grouper free from a fisherman's line they falsely assumed was illegal. The May 28 pardon granted full clemency to both John Moore Jr. and Tanner Mansell, who spotted the longline 3 miles off the Jupiter Inlet on Aug. 10, 2020, and pulled it ashore. The gear alone cost the vessel owner about $1,300 while the value of the lost sharks amounted to several thousand more. "Whether people believe in his politics or not, he chose to pardon me — somebody who deeply cares for the environment and only ever wanted to help," Mansell said in a text after his pardon. "I can't help but feel extremely grateful." Defense attorneys Marc Seitles and Ashley Litwin, who helped secure the men's pardon, said the decision to charge them anyway was a clear case of government overreach. While the two avoided prison time, their pardons mean they are no longer felons, restoring their rights to vote, own firearms, and freely travel abroad. USA TODAY has reached out to the White House for comment. Why did they cut the sharks loose? Moore and Mansell said they thought they were doing the right thing by confiscating the line and releasing the sharks snagged by its hooks. The two said it is the reason they called state wildlife officers to report the line, and why they snapped photos as they freed the sharks and pulled the gear from the water, which were later used against them in court. Who did the longline belong to? The 3-mile longline belonged to one of only five vessels in the world permitted by NOAA to harvest sandbar sharks for research. Scott Taylor, captain of the boat the longline belonged to, called the National Oceanic and Atmospheric Administration and sought a criminal investigation. Federal prosecutors argued that the divers knew the line was legal and sabotaged it anyway to preserve shark populations for their commercial interests. When were the pair convicted? Moore Jr. and Mansell were found guilty on Dec. 2, 2022, after jurors deliberated for three days — longer than the trial itself. U.S. District Judge Donald Middlebrooks later sentenced the pair to one year of probation and ordered them to pay $3,345 in restitution to the Fort Pierce fisherman whose equipment was destroyed. Why was their prosecution questioned? Trump wasn't the first to question Moore and Mansell's prosecution. During a 2024 hearing in the 11th Circuit Court of Appeals, two judges asked why the men were charged with a crime. Judge Barbara Lagoa said Assistant U.S. Attorney Tom Watts-Fitzgerald prosecuted the men "for reasons that defy understanding." She compared him to Inspector Javert — the relentless lawman from "Les Misérables" who pursued a man for decades over the theft of a single loaf of bread. "Moore and Mansell are felons because they tried to save sharks from what they believed to be an illegal poaching operation," Lagoa wrote. "They are the only felons I have ever encountered, in eighteen years on the bench and three years as a federal prosecutor, who called law enforcement to report what they were seeing and what actions they were taking in real time.' But the court held that, under federal law, it was enough that the divers intentionally took property that wasn't theirs. "Often in criminal defense, it's a long road where you feel like you're banging your head against the wall and no one cares," Litwin said. "This felt that way."
