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Market Abuse

[edit]

Various editors seem to keep removing the information about Jabres Market Abuse fine by the FSA. This was very big news at the time, as is still the largest fine ever handed out by the FSA. The information is well sourced, with a link to the FSA website. Removing this information from this page is equivalent to removing the insider trading information from Ivan Boesky's page.

A google search for Jabre market abuse brings up all of these articles, as it was very big news.

http://www.google.com/search?q=jabre+market+abuse&sourceid=ie7&rls=com.microsoft:en-US&ie=utf8&oe=utf8

A simple google news search for Philippe Jabre brings up hundreds of articles about this case. http://news.google.com/archivesearch?um=1&cf=all&ned=uk&hl=en&q=Philippe+jabre&cf=all Writerofstuff (talk) 14:04, 29 October 2009 (UTC)[reply]

Writerofstuff

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Editor seems to be only interested in adding unsourced info to this article and to be involved in conflict of interest. Market abuse and fine are mentionned in article. Other comments are unsourced libels. —Preceding unsigned comment added by 80.89.188.61 (talk) 21:29, 2 November 2009 (UTC)[reply]

Nothing is unsourced, and what exactly is my conflict of interest? The piece you are deleting comes directly from the FSA website and the other piece is sourced from Bloomberg. Do you deem this to be a unreputable source. You are trying to turn this into a puff piece. There are hundreds of articles on this topic, as I semonstrated above, almost every article about him brings up these issues. Please do not delete any more correctly sourced data and call it vandalism. Writerofstuff (talk) 14:16, 4 November 2009 (UTC)[reply]

Market abuse II

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Before undoing my edits please read these three articles, and tell me what it is you are claiming is unsourced.

http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=a.cK5w3GUwK4 http://www.fsa.gov.uk/pages/Library/Communication/PR/2006/077.shtml http://www.bloomberg.com/apps/news?pid=20601087&sid=aVeK6RWodq5M&refer=home —Preceding unsigned comment added by Writerofstuff (talk • contribs) 09:05, 19 November 2009 (UTC)[reply]

Proposed changes

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Hi, I'm an external PR consultant working for my client Jaber Capital Partners. I wish to suggest some updated and factual edits to this entry. I hope it's helpful and clear. Thank you for your consideration.

INTRO

Current text, first half:

Philippe Jabre is the founder and CIO of Jabre Capital Partners S.A,

Update text: Philippe Jabre is the CEO and CIO of Jabre Capital Partners S.A,

Current text, second half:

a Geneva-based hedge fund and a former managing director of GLG Partners, a UK-based hedge fund.

Update text: a Geneva-based independent wealth management firm and multi-family office, and a former managing director of GLG Partners, a UK-based hedge fund.

SUMMARY BOX

Update the Title: CEO and CIO of Jabre Capital Partners S.A.

CAREER section

GLG Partners

First sentence:

After joining GLG in 1997 and having a significant impact on the hedge fund's growth and success, Jabre left GLG during a 2-year investigation by the FSA.

Update second half of the sentence: "...Jabre left GLG after 9 years in 2006, during a 2-year investigation by the FSA."

  • Reason: make clear to readers the length tenure at GLG and the year of departure.

Jabre Capital Partners

Last sentence, second half, delete the following part:

and Jabre Capital Partners is one of the largest hedge funds in Switzerland today.

Add a new sentence instead: Assets under management surpassed USD 6bn at their peak.

2011 Tōhoku and Japan Nuclear Crisis Trading Activities

Reduce length: it is disproportionately long, referring to one single moment in 2011 in Philippe Jabre's career. The event in question has very little (if any) relevance today.

Delete the following second half of the entry which is purely descriptive and a copy-paste of quotes:

He personally contemplated the odds and eventually instructed his traders to close out their bearish futures. Mr.Jabre said he and his firm could not bear the risk of the supposed nuclear explosion that would lead government officials to close the Tokyo Stock Exchange, locking his firm's capital in with no way to retrieve it for several months.The shares that were expected to bounce back did so the following week. This short panic and nervous sell off resulted in what the firm dubbed "a six-month drawback in fund performance". All in all, this would eventually cause a $300 million windfall for the fund and an uneasy Jabre went on asking several colleagues of his if he "made the right decision"."I keep thinking about it, what could I have done differently" ... "We couldn't take the risk of the Tokyo Stock Exchange closing down, so we sold". He told a reporter of the Wall Street Journal, "I felt horrible, but I don't express happiness or frustrations," he said. "Emotions are the enemy of a balanced person." Reflecting back on his decision, Philippe says he doesn't expect much emotional recoil on the trade, but said that he's happy his firm has some capital to work with now that would otherwise be frozen. "If we're wrong [and the market rallies], we set the firm back," Mr. Jabre remembers telling a colleague. "But we'll be alive to fight another day."

Note: no source attributed to this section.

Add new sub-section: 2020 relaunch of asset management activities

Accompanying new text:

In 2018, Mr Jabre made the decision to return external capital in the funds[1] as part of a restructuring of the firm, and to refocus on its historical wealth management activities.

Since June 2020, Jabre Capital Partners has relaunched its asset management activities focused on the firm’s core strategies.

  • Reason: latest developments at Jabre Capital. The firm's activities have changed.
  • Reference supporting change: https://www.jabcap.com/

Awards and industry recognition

Add new sentence at the end:

Jabre Capital Partners is an active member of the Association Suisse des Gérants de Fortune (ASG)[2].

  • Reason: factual update.

PERSONAL LIFE

Replace the following sentences:

He is also the founder of Association Philippe Jabre (APJ), which provides financial aid for young students in Lebanon to pursue their education. In 2015-2016, APJ funded around 380 students.

Replace with:

He is also the founder of the not-for-profit Association Philippe Jabre (APJ)[3] based in Beirut, which provides financial aid to Lebanese people in need, including the distribution of university grants to students seeking to pursue higher education and post doctorates. Between 2001 and 2020, the APJ granted university scholarships to 2,245 students.

Jeorad (talk) 14:52, 8 July 2021 (UTC)[reply]

References

  1. ^ https://www.ft.com/content/3d07e70c-fefc-11e8-ac00-57a2a826423e
  2. ^ https://www.vsv-asg.ch/fr/mitgliedersuche?typ=detail&id=1472
  3. ^ https://apj.org.lb/
 Partly done: Hi. I've implemented some of your requests. Unfortunately some of the changes relying on the JCP website cannot be, such as the 2020 relaunch. Please provide independent and reliable sourcing for these. The Japan section was deleted for being unsourced. PK650 (talk) 23:40, 11 October 2021 (UTC)[reply]

Updates

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Thank you for the last round of changes. Since then, a new media article has been published that leads to the below requested updates to the entry.

All of the below updates are taken from this article (published in French):

https://www.lorientlejour.com/article/1287749/pour-philippe-jabre-almaza-garde-un-fort-potentiel-de-developpement.html

Thank you in advance.

INTRO

a Geneva-based hedge fund.

Delete: hedge fund

Change to: a Geneva-based wealth and asset management firm and multi-family office

Reference: see article link above

CAREER - FSA Fine

From the FSA website: "On 11 February 2003 Mr Jabre was 'wall crossed' by Goldman Sachs International as part of the pre-marketing of a new issue of convertible preference shares in Sumitomo Mitsui Financial Group Inc (SMFG). Mr Jabre was given confidential information and agreed to be restricted from dealing SMFG securities until the issue was announced. Mr Jabre breached this restriction by short selling around $16 million of SMFG ordinary shares on 12–14 February 2003. When the new issue was announced on 17 February 2003, Mr Jabre made a substantial profit for the GLG Market Neutral Fund."[citation needed] At first he planned on appealing the fine, but then withdrew his appeal.

Delete this particular paragraph - no citation or source available.

Jabre Capital Partners

about $4 billion

Delete: "about"

Change figure to: $5 billion

Reference: see article link above

Jabre Capital Partners

Add a new paragraph:

In 2018 Mr Jabre decided to draw a line under his hedge fund activities. He returned external capital in the funds as part of a restructuring of the firm, and decided to refocus on its historical wealth management activities. Since June 2020, Jabre Capital Partners has relaunched its asset management activities focused on the firm’s core strategies.

Reference: see article link above, as well as new media article for reference: [1]

Brasserie Almaza

Add a new section after Awards and industry recognition called Brasserie Almaza

Add the following text: In December 2021, Philippe Jabre acquired majority ownership of Brasserie Almaza, the Lebanese beer brewery. This brought the company back into family control almost 90 years after it was founded by the Jabre family in 1933. Heineken Group, which had a majority stake in the company since 2003, remains a minority shareholder and continues to provide access to international brands and technical expertise.

Reference: see article link above

Personal life

2001 and 2020

Update to: 2001 and 2021

2,245 students

Update to: 2,568

Reference: for this specific last update, the source remains the APJ website as already mentioned in the entry.

Jeorad (talk) 16:10, 10 February 2022 (UTC)[reply]


@Jeorad Edits made with several tweaks Submit additional requests if you would like more changes. Cheers. Duke Gilmore (talk) 19:55, 9 December 2022 (UTC)[reply]

References

  1. ^ https://agefi.com/actualites/entreprises/les-obligations-ont-fait-80-de-la-correction-mais-les-actions-vont-encore-baisser
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