Lifestyle

Saiers Makes Sandy Donation Sans Banksy

Oct 29 2013 | 1:03pm ET

When British graffiti artist Banksy began his "residency" in New York City earlier this month, hedge fund manager Nelson Saiers made him an offer: Paint a mural to raise awareness of those still affected by Hurricane Sandy, and he'd donate $100,000 to rebuilding efforts.

And while Banksy has produced a new work just about every day during October, a Sandy-themed piece has yet to appear. But Saiers has decided to go ahead with his gift to World Vision, which seeks to help underprivileged children in areas battered by the storm, which made landfall in New Jersey one year ago today.

"As the anniversary of Hurricane Sandy is upon us, I've decided to waive the criterion on my original letter and will donate the original $100,000 to World Vision to benefit underprivileged children in Sandy-affected areas," Saiers wrote. But the Saiers Capital chief hasn't given up on Banksy, whose "residency" has a couple more days to run.

"At this point, the anonymous donors are waiting to see if you will accept the original offer before donating the remaining $142,000. As art is subjective, if you have already completed a piece fulfilling the requirement please contact me. Speaking of great art, during your residency if you haven't seen Swoon's Hurricane Sandy mural you should check it out. She's doing an amazing thing."

Hurricane Sandy devastated coastal areas of New York, New Jersey and Connecticut, including Manhattan's financial district, closing the New York Stock Exchange and the city's public-transportation system, and doing some $70 billion in damage.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

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

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.