Herbalife Skeptic Fired

Jul 30 2014 | 7:48am ET

William Ackman’s presentation on nutritional supplements company Herbalife didn’t impress many people, but one of its fans is now out of a job.

Hartford Financial Services Group’s William Kelly was among the very few offering cover to Ackman, telling The Wall Street Journal that the Hartford had been wary of offering Herbalife a directors-and-officers policy, saying, “I’ve never gotten comfortable with the business model.”

The comment has now cost Kelly his job: He told Bloomberg News that he had been fired last week, but did not elaborate. A Hartford spokeswoman said that the firm “takes very seriously its obligations to protect The Hartford’s business information including that related to its customers and potential customers.”


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

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

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of