Tuesday, 1 December 2015
Last updated 1 min ago
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, Dealbreaker.com 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.
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…