Saturday, 20 September 2014
Last updated 10 hours ago
Jan 14 2014 | 11:50am ET
Former Citigroup President John Havens has his old job back.
Havens was named non-executive chairman and a partner at Napier Park Global Capital, which spun off from Citi last year. Havens led New York-based Napier Park—then known as Citi Capital Advisors—as CEO of Citi Alternative Investments, prior to his appointment as Citi's president in 2011.
A year later, he and Citi CEO Vikram Pandit—who had led Citi AI prior to his promotion to CEO in 2008—were fired, but not before they oversaw Napier Park's planned spin-out, which gave its top managers, Jonathan Dorfman and James O'Brien, a 75% stake in the unit for free.
Citi continues to hold a non-voting minority stake in Napier Park, which has $5.6 billion in assets.
Havens and Pandit, both former Morgan Stanley executives, co-founded hedge fund Old Lane Partners after leaving that bank. They sold it to Citi in 2007, where it became part of Citi AI until it was shuttered in 2008.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.