Top Paulson Banking Analyst To Launch Hedge Fund

Mar 14 2012 | 2:38pm ET

Paulson & Co. has lost its top banking analyst, who plans to launch his own hedge fund.

Robert Lacoursiere left New York-based Paulson last week, Bloomberg News reports. He will launch his financials hedge fund within six months.

Lacoursiere did not make investment decisions at Paulson, instead overseeing the firm's 10 financials analysts. The now-former partner joined Paulson in 2008, the same year that Paulson suffered its last top departure, that of Paolo Pellegrini, from Bank of America Securities.

Lacoursiere also formerly worked at Capital One Financial, Lehman Brothers and Bear Stearns.

The stocks that Lacoursiere and his team covered have weighed heavily on Paulson, which saw its largest hedge fund lose more than 50% last year. The firm recently sold off its entire holdings in Citigroup and Bank of America.

Lacoursiere's exit follows the brief departure of one of his analysts, Zach Gast. Gast quit in January only to be rehired this month to work at Paulson's London office.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...