When it comes to hedge fund business, who you know counts just as much as what you know. That’s why it’s not too surprising to learn newly launched activist hedge fund Hudson Executive Capital has signed on two more big names from the financial world. Former SEC chair Mary Schapiro and former chairman and CEO of Wells Fargo, Richard Kovacevich, both joined the new hedge fund this week.
While you might think an ex-SEC chair would be embarrassed to work for a hedge fund, the concepts of propriety or even shame apparently pale before the opportunity to be paid a huge salary for minimal work. All is good as long as the revolving door is turning