Akasha Founder Named To Final Lehman Board

Dec 6 2011 | 11:10am ET

A former hedge fund manager will serve as one of the final directors of Lehman Brothers Holdings.

Thomas Knott, the founder of Akasha Capital, was one of seven members of the slate that will oversee the final liquidation of the bankrupt investment bank and its disappearance. The group, which also includes a pair of Goldman Sachs veterans, the former chief restructuring officer of Refco Inc. and the former CEO of Morgan Stanley's Asia business, will take office when Lehman's latest liquidation plan is approved by a judge, possibly today.

New York hedge fund Fir Tree Capital, one of the Lehman creditors that will split about $65 billion, was among the group that helped pick the new board, and said in a statement that it sought to "attract best-in-class director who will work to maximize value." The hedge fund said it interviewed individuals "highly respected in a range of critical areas, including real estate, derivatives, private equity and restructuring."

Lehman is expected to sputter along for between three and five years as it waits for real-estate and other markets to rebound before selling its remaining assets.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.