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

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note