Elliott preps board to succeed Singer
By Lawrence Delevingne
Tue Jun 21, 2011
Paul Singer isn’t going anywhere, but he’s created a board of directors and added provisions to protect investors in the event of his departure. The firm is also preparing to raise more capital.
Paul Singer has no immediate plans to step back from a more
than three-decade career in investing, but his $17.1 billion
hedge fund firm, Elliott Management Corporation, continues its
succession planning just in case.
Elliott introduced a board of directors that would take
effect and assume control should Singer no longer run the firm,
"whether by death, incapacity, or otherwise," according to a
letter sent to investors Monday, June 20. As currently planned,
the board will have four members. Three of them are long-time
Elliott employees and equity partners: Jonathan Pollock,
co-chief investment officer; Brian Miller, chief trading
officer; and Gordon Singer, head of global event arbitrage
strategies and the...
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