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, 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.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...