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Philippe Jabre

From Wikipedia, the free encyclopedia

Philippe Jabre
Born1960
NationalityLebanese
OccupationHedge Fund Manager
TitleCEO, CIO of Jabre Capital Partners S.A
Children4

Philippe Jabre is the founder, CEO and CIO of Jabre Capital Partners S.A, a Geneva-based wealth and asset management firm and multi-family office,[1] and a former managing director of GLG Partners, a UK-based hedge fund.

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(music) Javier Alejandro Masis: Welcome to Princeton. (music) Jean-Philippe Jabre: My favorite class was probably Econ 101. Solomon Braun: Intro to Psychology. Rund Abdelfatah: Introduction to Anthropology. An-Ting Liu: The seminar in Ghana. Ayomikun Okeowo: Computer science. Ayomikun Okeowo: I like it because you get to make whatever types Ayomikun Okeowo: of program you want. James Thorman: One was a class called "Economics and Public Policy," James Thorman: taught by Professor Bogan, and the other one was a "High-Tech James Thorman: Entrepreneurship" course taught by Ed Zschau. Neha Goel: Human rights with Professor Gary Bass. Neha Goel: It was just amazing class. Rivka Cohen: It's tied between Arabic and philosophy -- Rivka Cohen: "Intro to Metaphysics and Epistemology." Javier Alejandro Masis: I was in a class called "Music of the Americas." Nene Umoren: "Japanese Pop Culture in the Age of Globalization." Sonya Chu: "Physics 105," which is general physics, but it's the Sonya Chu: advanced, the honors course. Ukachi Emeruwa: I got to go to Ghana up for my global Ukachi Emeruwa: health certificate. Hannah McDonald-Moniz: I got to take a class over the summer abroad in Italy Hannah McDonald-Moniz: with a small group of people, and it was the best way to Hannah McDonald-Moniz: learn Italian in a very short amount of time. Hannah McDonald-Moniz: It was an intensive class in four weeks that took up Hannah McDonald-Moniz: the spot of one semester. And then the next summer I Hannah McDonald-Moniz: got to go to Paris for an internship, and then I Hannah McDonald-Moniz: also was able to research my senior thesis in Italy. Elizabeth Stevens: I would say one of the best academic experiences I've Elizabeth Stevens: had here at Princeton is the flexibility in their allowing Elizabeth Stevens: me to pursue the academics that I want to do. Elizabeth Stevens: I am an independent major in biological anthropology, Elizabeth Stevens: which is almost a double major in the anthropology Elizabeth Stevens: and EEB departments. (music) Raphael Frankfurter: I was actually approached by the professor in Raphael Frankfurter: the second month of the class and told that he would fund me Raphael Frankfurter: doing an internship anywhere in the country relating Raphael Frankfurter: to medical anthropology. Rund Abdelfatah: It was a first anthropology class I've ever Rund Abdelfatah: taken in my life, but I actually fell in love with it, Rund Abdelfatah: and I found that I just was really passionate about the Rund Abdelfatah: subject area, and I've actually decided that I may Rund Abdelfatah: be an anthropology major because of that class. Sonya Chu: But overall, I was really happy I did that Sonya Chu: class because it was the most challenging class Sonya Chu: I've ever done so far. Rivka Cohen: Arabic can be a very difficult language, especially Rivka Cohen: grammatically, and we have a lot of fun in that class. James Thorman: Merging economics and public policy was a very James Thorman: interesting exercise that kind of enabled me to think about James Thorman: applying economics in a way I hadn't thought about before, James Thorman: and actually became the basis for kind of what James Thorman: I would study later on. Neha Goel: We got to learn about just the development of human Neha Goel: rights as a concept in general, and I learned a lot of things Neha Goel: that I didn't even expect, like the fact that people disagree Neha Goel: with the idea of human rights at a very basic level, the Neha Goel: very validity of the concept. Jean-Philippe Jabre: I mean, it really helped to understand the recent Jean-Philippe Jabre: recessions, and now I'm definitely planning on majoring Jean-Philippe Jabre: in econ just because of that class is a great class, great lecturer. Nene Umoren: We're talking about themes that are relevant, Nene Umoren: things that are popping up in our everyday lives, and looking Nene Umoren: at it from a totally different perspective of seeing how other Nene Umoren: students view the world around us. Neha Goel: I definitely found myself opening my eyes and Neha Goel: learning something completely new. Rund Abdelfatah: You can find great things in unexpected places. Sonya Chu: Definitely take challenging courses because Sonya Chu: they're well worth it. Rivka Cohen: I felt that I learned how to organize my thoughts in Rivka Cohen: a completely different way. Javier Alejandro Masis: It's just much more interesting to see how things Javier Alejandro Masis: work than to immediately label them as good or bad. An-Ting Liu: I did not expect it to be such an interesting and An-Ting Liu: life-changing experience. Sonya Chu: It's not just about getting the top grades, it's Sonya Chu: about learning something and challenge yourself. Javier Alejandro Masis: That's probably the 'aha' moment. (music) Ukachi Emeruwa: Besides having an extremely flexible class Ukachi Emeruwa: schedule such that I have time for basketball, dance, all the Ukachi Emeruwa: kinds of activities I want to do, Princeton also allows Ukachi Emeruwa: within your course work for amazing opportunities. Elizabeth Stevens: Princeton has allowed me to design my own curriculum Elizabeth Stevens: and combine the courses that Princeton offers, as well as Elizabeth Stevens: mix my advisors between the departments. Hannah McDonald-Moniz: For anyone who's interested in languages or Hannah McDonald-Moniz: studying abroad, I was really impressed with the number of Hannah McDonald-Moniz: unexpected opportunities that I had here at Princeton. Nene Umoren: Being able to share in that opportunity, get the broad Nene Umoren: range of perspectives that Princeton offers is something that Nene Umoren: has been really phenomenal for me, and something that I Nene Umoren: wouldn't get anywhere else. Elizabeth Stevens: It's allowed me to pursue what I've wanted to do basically my whole life. Sonya Chu: Even if it looks like it's impossible, you try your best Sonya Chu: and you'd be surprised at what you can achieve. Ukachi Emeruwa: I'm forever grateful for having that opportunity. An-Ting Liu: This is really a great place to be. (music)

Early life

Jabre, born in 1960 in Beirut, Lebanon, studied at college Notre-Dame de Jamhour. He graduated from Concordia University in 1980 with a BBA[2] and earned an MBA from Columbia Business School in 1982,[3] where he is a member of the Board of Overseers.

Career

Jabre trained at JP Morgan and then BNP Paribas the French bank. In his 16 years there, he specialised in the budding market for convertible arbitrage, a strategy that involved buying a company’s convertible bonds and selling short the company’s stock.[4]

GLG Partners

After joining GLG in 1997 and having a significant impact on the hedge fund's growth and success, Jabre left GLG after 9 years in 2006, during a 2-year investigation by the FSA. Individuals familiar with the firm say GLG came to view Mr. Jabre as someone who took unnecessary risks. Jabre was fined £750,000 for market abuse in 2006 for breaching FSA principles. This was, at that time, the largest fine the FSA had issued against an individual.

Financial Services Authority (UK) 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."[5] At first he planned on appealing the fine, but then withdrew his appeal.

The FSA's Regulatory Decisions Committee “decided that Mr Jabre did not deliberately commit market abuse, ruling that he did not violate the FSA’s Principle 1 governing market integrity”. The Committee opted not to ban or suspend Jabre.[6] In an interview with CNBC, Jabre asserted that “when he was fined in London for market abuse, the rules and regulations were "not as clear" as they are now"[7]

Jabre Capital Partners

On October 11, 2006 it was announced that Philippe Jabre was set to open a new hedge fund in Geneva, Switzerland, after his non-compete contract with GLG Partners expired. The fund opened in February 2007 and was one of the largest new launches in recent years, as many of Jabre's old clients followed him to his new venture, along with a significant number of new investors. The fund - JabCap Multi Strategy Fund - closed very shortly afterwards with $5 billion under management[1] and Jabre Capital Partners having been one of the largest hedge funds in Switzerland at the time.[8]

In 2018 Mr Jabre decided to draw a line under his hedge fund activities.[9] 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.[1]

Jabre Capital Partners is an active member of the Association Suisse des Gérants de Fortune (ASG).[10]

Awards and industry recognition

In 2013 Jabre Capital was one of Europe's top-performing hedge funds[11] and won EuroHedge’s Management Firm of the Year award.[12]

In March 2014 the firm won three awards at the HedgePo Investors Choice Awards: Fund of the Year, Global Equity Fund of the Year and Global Multi-strategy Fund of the Year.[13]

Mr. Jabre also wrote the foreword of The Handbook of Convertible Bonds: Pricing, Strategies and Risk Management of Jan De Spiegeleer and Wim Schoutens[14]

Brasserie Almaza

In December 2021, Philippe Jabre acquired majority ownership of Brasserie Almaza, the Lebanese beer brewery.[15] 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.

Personal life

He is a skier. He is also married[16] with four children. Philippe is a trustee for the American University of Beirut.[17]

He is also the founder of the not-for-profit Association Philippe Jabre (APJ) 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.[18] Between 2001 and 2021, the APJ granted university scholarships to 2,568 students, according to their website.[19]

His house above Beirut, a family property creatively renovated after suffering heavy damage during the Lebanese Civil War, was designed by architect Nabil Gholam.[20]

References

  1. ^ a b c "For Philippe Jabre, Almaza retains strong development potential". L'Orient-Le Jour. January 17, 2022. Retrieved December 9, 2022.
  2. ^ "AUB - BOT - Philippe Raymond Jabre". www.aub.edu.lb. Archived from the original on 2015-09-23.
  3. ^ "An unbeaten risk-taker". Financial Times. 2006-03-03. Retrieved 2014-07-05.
  4. ^ "An unbeaten risk-taker". Financial Times. 2006-03-03. Retrieved 2014-07-05.
  5. ^ "Philippe Jabre v Financial Services Authority". UK Government Tax and Chancery Decisions. July 27, 2006. Retrieved December 9, 2022.
  6. ^ "An unbeaten risk-taker". Financial Times. 3 March 2006.
  7. ^ Rules weren't clear when I was fined: Jabre
  8. ^ "New rules hit Switzerland's 'Finance Valley'". Financial Times. 16 April 2012.
  9. ^ "Philippe Jabre: «Les obligations ont fait 80% de la correction, mais les actions vont encore baisser»". Agefi.com (in French). Retrieved 2023-04-19.
  10. ^ https://www.vsv-asg.ch/fr/mitgliedersuche?typ=detail&id=1472[dead link]
  11. ^ Clareville Top European Hedge Fund In 2013
  12. ^ "Philippe Jabre on Opportunities in Russia, Japan and China". 7 May 2014.
  13. ^ "HedgePo Investors Choice Hedge Fund Awards 2014 Winners Announced". Retrieved 6 July 2014.
  14. ^ The Handbook of Convertible Bonds: Pricing, Strategies and Risk Management. Wiley. 8 July 2011.
  15. ^ "Pour Philippe Jabre, Almaza garde un fort potentiel de développement". L'Orient-Le Jour. 2022-01-17. Retrieved 2023-04-19.
  16. ^ "Beirut Notes: Philippe Jabre: The Return of the Hedge Fund "Legend"".
  17. ^ "AUB - BOT - Philippe Raymond Jabre". www.aub.edu.lb. Archived from the original on 2015-09-23.
  18. ^ "THE ASSOCIATION". APJ. Retrieved 11 October 2021.
  19. ^ "UNIVERSITY SCHOLARSHIPS". APJ. Retrieved 11 October 2021.
  20. ^ Brooke Anderson (22 January 2015). "Damaged by War, a Villa in Lebanon Gets a Transformation". The Wall Street Journal.

External links

This page was last edited on 10 February 2024, at 07:48
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