Summers' lucrative gig at Shaw

Fri May 1, 2009

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Larry Summers

Working at a hedge fund can be lucrative, but who knew it could be this remunerative? Larry Summers, director of the National Economic Council, recently revealed that while employed by D.E. Shaw, his compensation was about $5.2 million over two years. And that was for just one day a week at the $28.6 billion hedge fund. Summers joined Shaw as a managing director in 2006 and advised the firm until 2008. Something of a Shaw mascot, Summers reportedly made himself available to traders and clients and now says the experience gave him a view into the inner workings of Wall Street.

ISSN: 2151-1845 / CDC10004H

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