Thursday, 31 July 2014
Last updated 18 min ago
Jan 4 2013 | 10:37am ET
Fairholme Capital Management has promoted its research head to its presidency.
Fred Fraenkel will remain chief research officer at the Florida-based hedge fund, it said in a statement. In fact, little will change, other than his title, founder Bruce Berkowitz explained.
“Fred’s role as president is an exciting development for Fairholme. Fred’s extensive experience in the mutual fund and hedge fund space has proved invaluable to the firm. This is just a formal announcement of what has already been the reality, and it allows me to focus on what I do best—investing.”
"I am excited to help lead Fairholme as we continue to ignore the crowd by seeking out undervalued opportunities," Fraenkel added.
Fraenkel joined Fairholme in 2011. He formerly worked at Beacon Trust Co., Millennium 3 Capital, ING Barings Furman Selz, Lehman Brothers, Market America Group, Prudential Securities, Goldman Sachs and E.F. Hutton, during a Wall Street career that has spanned four decades.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…