Bonanza for fund chiefs

MANAGERS at the hedge fund which made huge sums betting against the notorious trader known as the ‘London Whale’ shared £16.6 million in pay and pension payouts last year.

The 42 staff of Blue Mountain Capital Partners in the UK celebrated their huge payday after the London branch of the fund – which is paid a fee for advising its US parent – earned revenues of £39million in 2016.

That was sharply up on the £27 million earned the previous year.

Blue-Mountain took the other side of bets with JP Morgan’s ‘London Whale’ in 2012. The trader in the bank’s London office placed massive wagers in an apparent bid to offset JP Morgan’s overall risks.