Ex-Citi Pres. Named Chairman Of Ex-Citi Hedge Fund

Jan 14 2014 | 12:50pm 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.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of