October 21, 2006

Former Treasury Secretary to Manage Hedge Fund

-- By Pushpa Sathish, Staff Writer

US Treasury secretary, president of Harvard University, managing director of hedge fund D.E. Shaw & Co. – the designations of Lawrence Summers make quite an impressive portfolio. Summers was treasury secretary during Clinton’s tenure in the White House. He resigned from his high-profile post at Harvard in February after a not-so-easy five-year term. D.E. Shaw manages around $25 billion of investor assets. Reuters Today reports:

D.E. Shaw, a multi-strategy hedge fund which specializes in mathematics-based “quantitative” strategies, didn't elaborate on Summers' new role at the firm, except to say he will help “identify and critically evaluate new investment opportunities throughout the world's capital markets.”

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