Emmanuel Roman ( Manny Roman) also says that hedge fund managers are overpaid. Roman said “of course hedge fund managers get paid too much and one cannot justify the levels in finance versus other jobs”.
Manny Roman The chief operating officer at Man Group this week stood apart from typical industry arguments to claim that hedge fund managers are overpaid. According to trade magazine Investment Europe, Roman said that from a social standpoint “of course hedge fund managers get paid too much [and] one cannot justify [the levels] in finance versus other jobs”. The former chief executive of GLG Partners was speaking at Hedge Fund Forum in Monaco.
It is still possible to start a hedge fund in New Orleans with $20 million AUM (Asstets Under Management) with no need to register with the SEC said Manny Roman at hedge fund conference in Monaco.
“One would like slightly tougher hedge fund regulation in the US. If something were to go wrong with hedge funds, I think it’s much more likely it will be in the US than in the UK.”
Manny Roman was unmoved by any suggestion that stronger regulation and potential limits on remuneration could undermine the sector. Roman said:: “If this industry becomes slightly smaller over time because it only attracts people who really love it, that would be a good thing.”
Manny Roman also said it is hard to be bullish on equities in the next 10 years, and very hard to argue against much higher inheritance tax, given widening income and wealth inequalities.
View Gallery Of The Richest Hedge Fund Managers