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Tuesday Express: Hedge fund Tourbillon to shut down; Goldman cuts lending target


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Tuesday Express: Hedge fund Tourbillon to shut down; Goldman cuts lending target

* New York-based hedge fund Tourbillon Capital Partners is shutting down owing to continued underperformance of funds, CEO Jason Karp said in a letter to clients, Reuters reports.

* Goldman Sachs Group's online lending platform, Marcus, cut its lending target for 2019 based on the current conditions of the consumer lending market, Bloomberg News reports.

* JPMorgan Chase is likely to open its first branch in the Greater Baltimore area in mid-2019 or earlier, the Baltimore Business Journal reports, citing Rob Robertson, the bank's regional head of home lending.

* As part of its efforts to secure more business, Goldman Sachs is shifting senior bankers to its regional offices to help them stay closer to clients, CNBC reports.

* FINRA barred former Morgan Stanley broker Kevin Smith for refusing to provide testimony in the agency's probe into a trade-related allegation, according to a FINRA order.

* And Fannie Mae named Hugh Frater interim CEO, effective Oct. 16, subject to final Federal Housing Finance Agency approval.

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