Fired Kingdon IR Chief Fires Back

Oct 26 2010 | 3:22am ET

Will Marjorie Kaufman, the recently-fired head of investor relations at Kingdon Capital, have the last laugh after all?

Kaufman, who says she was let go without cause or notice last week, offered a parting shot to her former employers in the form of a goodbye e-mail to the New York hedge fund's biggest clients. Kaufman takes a good deal of credit for "transforming the firm from a boutique to an institutional asset management business" during her seven years, noting that when she joined the firm in 2003, it "was suffering from the departures of many PMs and had lost half of its assets."

She then drops a not-too-subtle hint that similarly bad times may follow her exit.

"Kingdon is now grappling with issues regarding its viability," Kaufman wrote to clients with more than $100 million invested with Kingdon, reports. "The firm faces difficult and sensitive challenges pertaining to succession. There is considerable management turmoil and uncertainly about the firm's direction. In the past two years, six portfolio managers and numerous analysts have left the firm."

Kaufman added that her firing was "in breach of" her contract with the $4.9 billion firm, saying she was "saddened by this sudden and very unexpected turn of events."

*Note, a previous version of this article incorrectly stated that Kaufman was Alan Greenspan's niece.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…