Ex-Borse Chief Writes Book Detailing His May 2005 Ouster

Dec 8 2005 | 5:06pm ET

Werner Seifert, former chief executive of Deutsche Börse, is reportedly close to finishing his book, “Invasion of the Locusts: Intrigues, Power Battles and Market Manipulation.”

According to European newspaper reports, insiders in the Deutsche Börse believe that the book may violate the terms of Seifert’s €10 million ($11.8 million) pay-off.

Seifert was toppled as head of the German exchange in May, just six months after launching a takeover bid for the London Stock Exchange, which met with major opposition from shareholders.

According to sources familiar with the book project, the tome details the battle to oust Seifert and his confrontational relationship with London-based hedge fund TCI, a leader in the shareholder rebellion. It also gives a broader critical analysis of the rise of activist investors and the consequences Seifert believes this trend will have for both German companies and firms world-wide. 


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

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

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of