Holwell Says Rajaratnam Trial 'Challenging'

Feb 8 2012 | 12:57pm ET

On the day he stepped down from the federal bench, the now-former judge who presided over the Raj Rajaratnam insider-trading trial talked about his decision and about the trial that put him in the newspapers on a daily basis.

Richard Holwell announced yesterday that he would quit his lifetime appointment to the U.S. District Court in Manhattan to start a litigation boutique with two former colleagues from law firm White & Case, where Holwell spent more than 30 years before being named to the bench by President George W. Bush.

"I just felt a little itch and wanted to try and get back in the courtroom from the other side of the rail," he told Reuters.

As for last year's trial of the Galleon Group founder, Holwell said it was "personally challenging."

"I personally found it a difficult court case because it had to be dealt with both on an individual level and, obviously, the case had implications for the financial markets and the social fabric in general," Holwell said. "You couldn't really overlook where it was and it was always a constant struggle to strike the right balance on how one approached the case."

Holwell admitted that it was unusual for a federal judge to quit to start a law firm, but he denied that it was a matter of compensation.

"It wasn't an issue of the woefully inadequate pay," Holwell told The New York Times. "I worked for 30 years in the private sector. It's simply the opportunity to do something completely different, so I'm going to take that opportunity."


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

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.