Activist Elliott Hires Citigroup's Shohet as COO

Jun 1 2015 | 3:13pm ET

Activist hedge fund Elliott Management has hired Zion Shohet as its chief operating officer. 

Shohet comes to Elliott from Citigroup, where he worked for 14 years and was most recently head of Citigroup’s regulatory reform and implementation group. At Elliott, he will oversee relationships with trading partners, finance and accounting and both physical and cybersecurity, according to an internal memo.

Prior to joining Citigroup, Shohet was with McKinsey & Company and Oliver Wyman & Co. He also made venture capital investments in financial services companies. 

Elliott, founded by billionaire Paul Springer, has been among the most prolific activist investors, taking on the boards of Informatica, Interpublic and EMC. It has also gained prominence for a long and bloody fight with the government of Argentina over defaulted bond obligations. 

Shohet will sit on the firm’s management committee, according to the memo. He will report to Jon Pollock, one of the hedge fund’s two co-chief investment officers. He succeeds 12-year Elliott veteran Keith Horn, who announced plans to leave the firm in March.

Founded by Paul Singer in 1977, Elliott’s flagship fund has returned about 14 percent annually, according to Bloomberg data.  The firm has approximately $25 billion in assets under management. 

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