Friday, 25 July 2014
Last updated 18 hours 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…