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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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I Just Sold My Hedge Fund Business Today - Trump Adviser Scaramucci
[Photo: Seated alongside JPMorgan's Mary Erdoes / World Economic Forum on 'The Growth Illusion']
Speaking at the World Economic Forum in Davos, Anthony Scaramucci - head of SkyBridge Capital and prospective Trump advisor – said he has sold his $12 billion fund of funds. Scaramucci dropped the news in the middle of a session on Trump's economic agenda. He was chronicling his rise through the financial ranks and, referring to his current firm, said, "I've actually just sold today."
The buyers were DC-based RON Transatlantic Advisors and HNA Capital of New York. Sales terms were not disclosed, though the asking price was thought to be in the $250 million range. RON is a holding company while HNC is a financial services unit of HNA Group, with $90 billion of assets.
Scaramucci's role officially will be as a liaison in the White House for state and local governments and for both American and foreign businesses. The position has been compared to the one President Barack Obama's key confidante Valerie Jarrett currently holds, though Scaramucci has downplayed those reports.
With the Scaramucci appointment, it brings a total of at least a half-dozen former Goldman Sachs employees who will be serving key advisory roles in the new administration.
