Whitebox Seeks New Pres. As Wood Exits To Focus On Charity

Jun 21 2013 | 8:55am ET

Whitebox Advisors is on the hunt for a new president, as current president and COO Jonathan Wood is leaving to focus on his charity work.

Wood, who has played an “indispensable role” at the Minneapolis-based hedge fund over the past 12 years, according to CEO Andy Redleaf, will devote himself full time to Charity Aware, an organization he and his wife founded in 2012 to encourage young Americans to do charitable work.

In a letter to investors, Redleaf said Wood's role will be split in two—the firm's general counsel Mark Strefling will become COO and Whitebox will conduct a search for a new president.

Redleaf said the successful candidate will be “someone of the highest integrity and strength of character; someone who has  been a leader in our industry and won the trust of other leaders. The job calls for an experienced and  successful investment professional, who can conduct Whitebox’s strategic relationships at the highest level. ”

Wood will remain as president until his replacement is found, sometime before the end of this year. He will also remain on the Whitebox board of directors and retain his economic interest in the firm.

Redleaf thanked Wood for his contribution to the firm and credited the departing president with seeing the firm through the financial crisis of 2008:

“In those  days the very survival of the firm depended on Jonathan’s judgment and skill, his perseverance, determination and courage under fire," Redleaf wrote to investors.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

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

Forex: What happened to the volatility?

There are two things currency analysts agree on: Currencies have never gone through such a period of low volatility and the dollar must lead the sector out of the current malaise.

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.