U. Va. Reinstates President, Despite Tudor's Jones

Jun 27 2012 | 11:05am ET

If Tudor Investment Corp.'s Paul Tudor Jones had a hand in the firing of University of Virginia President Teresa Sullivan two weeks ago, it was a short-lived victory.

The school's Board of Visitors yesterday unanimously voted to reinstate Sullivan, 16 days after forcing her resignation less than two years into her five-year term. That move led to widespread protests on campus, including a faculty vote of no confidence in the Board of Visitors, although not from Jones, who wrote a guest column in the Charlottesville campus' student newspaper calling Sullivan's exit "a clarion call from the Board of Visitors that business as usual is not acceptable anymore."

Jones reportedly had a hand in the "project" to remove Sullivan. The hedge fund honcho and 1976 Virginia alumnus reportedly lacks faith that Sullivan has the ability to raise enough money to allow U. Va. to compete with better-funded private universities; it is unclear whether Sullivan's reinstatement will affect his plans to make a large donation, possibly in the nine figures, to the school.

"I pledge to set aside any differences we might have and to work hand-in-hand with Rector [Helen] Dragas and all the members of the Board of Visitors as we face the challenges that have been articulated—and find solutions that will further distinguish the university," Sullivan said after the 20-minute meeting.

Dragas, who had pushed for Sullivan's exit and asked for her resignation, also received a vote of confidence from the Board of Visitors. She has faced calls to resign herself, as has the board, en masse.


In Depth

Fitch Says Alternative Asset Managers 'Stable' Despite Dry Powder

Nov 20 2014 | 9:30am ET

Ratings agency Fitch says the outlook for seven publicly traded alternative asset...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

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

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

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.