George Soros Hires Wall-Street Hotshot to Oversee His Fund
One of the richest men on the planet and top ranked hedge fund billionaire, George Soros has made a major announcement regarding his fund management. According to a Forbes magazine article dated February 1 2017, Soros has named Dawn Fitzpatrick, the new Chief Investment Officer of Soros Fund Management (SFM), and a large family investment office that continues to operate as a hedge fund. Soros made the calculated decision to close his prominent hedge fund a few years ago, but the fund is still tasked with overseeing Soro’s $30 billion fund targeted at philanthropy, humanitarian and developmental causes. The areas of focus include Policy Reform, Democratic Ideals, Education, Economic Development and Humanitarian Assistance.
Prior to taking up the new position, Fitzpatrick held a senior position at the Swiss based hedge fund and multi-asset investment group UBS, where she served in the asset management unit. The position of Chief Investment Officer at SFM fell vacant after one of Soros staunchest confidants, Ted Burdick stepped down in 2016 after a few months in office. The position has had 6 officers since 2000. Burdick left the high ranking post in 2015 to establish Key Square Group, a private hedge fund. It is important to note that in spite of changes in the management and setup of the fund, Soros 86, maintains an active role in decision making. He regularly weighs in on important matters, including investment strategies and trading decisions.
Soros strongly believes in the promotion of democratic ideals and continues to support the Democratic Party and its causes. During the just concluded US general elections, Soros made his presence known when he announced a huge donation to support Hillary Clinton’s presidential bid and that of other democrats downstream. According to an excerpt published on Politico on July 27 2016, Soros made the comeback with a hefty $25 million donation after staying out of big money campaign for some time. The last time Soros made such a huge contribution was in 2004, when he donated an unprecedented $27 million to support the campaign to elect John Kerry as president against George Bush. Visit projectsyndicate.com to know more about George.
Although George Soros also backed the candidacy of Barrack Obama over that of Hillary Clinton during the 2008 presidential primaries, he felt Obama was not as aggressive in pursuing liberal causes as he had anticipated. In the recent installment, some of the other liberal groups that benefitted from Soros largesse during the election cycle included American Bridge 21st Century ($2 million); Priorities USA Action ($7 million) and Immigrant Voters, which received $5 million. Priorities USA Action is a Super PAC that supported Hillary Clinton election, while America Bridge 21st Century is an opposition Super PAC that has focused its attention on fighting Trump, the Republican candidates and their policies.
Learn more on Discover the Networks about George Soros.