Passport shakes up team
By Lawrence Delevingne
Tue Mar 27, 2012
John Burbank’s firm announced a slew of promotions and hires in January—only to fire 14 in March.
John Burbank's $3.8 billion Passport Capital is realigning its
staff after its flagship long/short Global Fund
fell 18.7% in 2011.
News emerged on March 20 that the San Francisco firm had
fired 14. "We made the difficult decision to do some downsizing
of staff last week, reducing to approximately the headcount we
had at the beginning of 2011," Passport said in a statement.
"We thank those employees who are no longer with us for their
service and wish them the best. We look...
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