Hedge Fund News: Stanley Druckenmiller, Barry Rosenstein, Elliott Management

BlueMountain Hires Goldman Sachs’s Nick Pappas as CEO in Europe (Bloomberg)
BlueMountain Capital Management, which manages more than $20 billion, named Nicholas Pappas chief executive officer of its European operations. Pappas joins from Goldman Sachs Group Inc., where he headed leveraged-finance trading and research in Europe, the Middle East and Africa, according to a statement distributed on PR Newswire. Pappas will take over the role from David Rubenstein, who will return to the firm’s New York office as a managing partner and general counsel, the statement said.

Clinton: Unfair That Fund Managers Pay Lower Tax Rate Than Truckers (CNBC)
Democrat Hillary Clinton blasted executive pay and tax rates for hedge-fund managers on Tuesday, using the first stop of her low-key campaign rollout in Iowa to highlight her promise to help Americans struggling toward economic recovery. “There is something wrong when hedge fund managers pay lower tax rates than nurses or the truckers that I saw on I-80 as I was driving here over the last two days,” Clinton said, perched on a stiff metal chair in the automotive shop of a community college.

Indonesian Group Takes on Nat Rothschild With Proposed Bid For ARMS (CNBC)
A potential bid by Indonesia’s Sinarmas Group and hedge fund Argyle Street Management for London-listed Asia Resource Minerals Plc (ARMS) risks scuppering a long-awaited restructuring backed by ARMS co-founder Nathaniel Rothschild. Shares in coal miner ARMS, formerly known as Bumi, jumped more than 90 percent to as high as 29 pence on Wednesday after Asia Coal Ventures, a vehicle controlled by Argyle and funded by tycoon Era Tjipta Widjaja’s Sinarmas Group, said on Tuesday it was considering a 210 million pound ($310 million) cash offer.

Activist Shareholder Assails UBS Over Investment Bank (Bloomberg)
UBS Group AG is again under fire from Knight Vinke Asset Management LLC, a shareholder who asserts the bank would be better off without its trading operations. Eric Knight, the founder and chief executive officer of the activist fund manager, wrote to Swiss bank in March, questioning whether it is leveling with shareholders about the profitability of its investment bank.