Friday, 30 January 2015
Last updated 5 hours ago
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.”
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…