Morning Coffee Apr 25 2012

Death of a Money Manager

By julie steinberg

B. Robert Williamson Jr. was no ordinary money manager.

Williamson, one of the key members of a family of movers and shakers in the hedge fund world, died last weekend in a car accident in North Carolina.

Williamson, who worked at Chilton Investment Co. in Connecticut, was the nephew of hedge fund titan Julian Robertson, who founded Tiger Management Corp., and was the stepbrother of Louis Bacon, the founder of hedge fund Moore Capital Management. He worked at Tiger Management in the late 1990s before starting his own hedge fund.

Williamson was also good friends with Sallie Krawcheck, the former head of Bank of America's wealth management unit. Both attended the University of North Carolina at Chapel Hill, though at different times.

"Our relationship was a social one," she said in an email to FINS, "based on our UNC backgrounds. I have been friends with him and [wife] Caroline for more than 20 years. He was a wonderful, funny, joyous person."

Williamson, 55, was found in his car underwater off a boat ramp near an island he had been staying on in North Carolina. He was supposed to have returned from a party on Saturday night less than a mile from where he was staying. It's still unclear how he died.

A memorial service will be held today at 5 p.m. at Christ Episcopal Church in Raleigh. The funeral will be held Monday at 4 p.m. at the Church of the Heavenly Rest in Manhattan.

Hiring Worldwide (Bloomberg)

Mitsubishi UFJ plans to add 50 currency and interest-rate derivatives traders around the world over the next three years. The firm wants the hires to more than double annual profit for that unit.

Empty Piggy Bank (WSJ)

Former employees of MF Global will not receive bonuses for their work over the past several months, according to the trustee unwinding the parent company. Now the public can go back to being outraged by Citigroup pay.

Determining Pay (Bloomberg)

Sergio Ermotti will be paid based on more than just his performance as chief executive of UBS. His role in restoring the bank's reputation will play a significant part in how much of a bonus he gets.

Revolving Door (DealBook)

Jeff Urwin was named head of J.P. Morgan's Asia-Pacific operations. He will succeed Gaby Abdelnour and will move to Hong Kong in May.

Business As Usual (Financial News)

While it seems like Goldman Sachs is losing multitudes of partners, the departures are simply a result of pent-up demand. Many had chosen not to leave the firm during the aftermath of the financial crisis.

Long Hours (Mergers & Inquisitions)

Working in public finance (which can include advising tax-exempt entities like state governments) may sound like a better lifestyle because it's for the government, but don't get too excited. You'll be working just as hard as you would at an investment bank.

Buzz Around the Office

The Off-Roading Dog (death + taxes)

A border collie uses his wheelchair to go hiking.

List of the Day: Getting a Raise

If you reap plenty of praise but no hard, cold cash to accompany it, here's what you need to do.

1. Make clear to your boss you're looking for a reward.

2. Ask which skills you should work on improving.

3. Consider whether your manager actually likes you or it may just be difficult for them to be critical.

(Source: CBS Money Watch)




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