Mack “the Knife” Ends up At Hedge Fund Group

Contributing Editor

7 June 2005

John Mack, the former co-chief executive officer of Credit Suisse Group almost a year ago, is joining Pequot Capital Management as chairman to expand the firm's hedge fund and buyout businesses. Mr Mack will, according to a statement, work closely with Art Samberg, Pequot’s chief executive to identify and develop attractive opportunities to expand on the firm’s platform of hedge funds and private equity funds. The statement added: “He will pursue new opportunities for the firm across asset classes and in regions beyond Pequot's current US focus. He also will focus on helping to attract top-tier investment talent to the firm. Mr Mack will work out of Pequot's New York City office.” Known as Mack “the Knife” during this time at Credit Suisse due to the amount of staff he cut, Mr Mack fell out with the current chief executive of the bank, Oswald Gruebel over strategic plans for the Zurich-based bank. “I can't imagine a more exciting place to apply my experience, and I look forward to working with Art to build on Pequot's business,” Mr Mack said in the statement. Mr Samberg started his flagship Pequot Partners fund in 1986 when he was at Dawson-Samberg Capital Management in Southport, Connecticut. He added other hedge funds to bet on falling as well as rising securities over the next dozen years and then he formed Pequot Capital Management in January 1999.