Former Hedgie Lipton Named IMF's No. Two

Jul 13 2011 | 9:20am ET

Newly-appointed International Monetary Fund Managing Director Christine Lagarde has named a hedge fund and White House veteran her top deputy.

David Lipton will become the IMF's first deputy managing director on Sept. 1, but will begin as a special adviser at the fund on July 26. Lipton is currently senior director for international economic affairs at the National Security Council and National Economic Council. A former top Treasury Department official under President Bill Clinton, Lipton spent five years of the George W. Bush administrations at Moore Capital Management before joining Citigroup.

Lipton's appointment continues the tradition of having an American as the number two at the IMF to a European chief. It's also something of a homecoming for Lipton, who worked at the IMF from 1981 to 1989.

The dynamic between the former hedge funder, whose appointment was pushed by the White House, and the IMF's new boss could be an interesting one. Lagarde, during her tenure as France's finance minister, was fiercely critical of hedge funds and pushed for harsh regulation of the industry.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Quattrex Sports AG Debuts Soccer-Focused UCITS Fund

Sep 9 2016 | 9:54pm ET

Innovative alternative investment company Quattrex Sports has unveiled a new UCITS...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...