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: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

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.