Paulson Seeks Allies In Bid To Split Hartford

Mar 12 2012 | 1:42pm ET

John Paulson has opened a new front in his battle to split up insurance giant Hartford Financial Services Group.

A month after undressing Hartford CEO Liam McGree on a conference call for analysts and investors, the Paulson & Co. founder went hunting for allies. Paulson held a conference call with analysts covering the Hartford urging them to back his effort to split the insurer's life-insurance and property-casualty business. While McGee has warned that such a move would present "significant challenges," Paulson told the analysts that McGee has "no excuse" for delaying.

Paulson, who is seeking to rebuild his battered funds' fortunes after a disastrous 2011, owns 8% of the Hartford.

Last month, Paulson told McGee that he needs to "overcome the obstacles" and "not merely point out that there's obstacles."

"What I'd like to see you do is not merely come back and say, 'Yes, we're looking at strategic options but there's challenges,'" he added. "How long do we have to wait to hear if there's going to be a positive recommendation to separate these two businesses?"


In Depth

Hedge Fund Selection: Sussex Partners’ Patrick Ghali Bullish On The Best Of The Best

Oct 2 2014 | 5:56am ET

Ten years ago, Patrick Ghali and Robin Nydes co-founded Sussex Partners with the...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

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.