John Meriwether
John W. Meriwether (born August 10, 1947 in Chicago , Illinois ) is an American finance manager.
Career
John Meriwether studied at Northwestern University and the University of Chicago Booth School of Business, where he graduated with an MBA . Meriwether worked from 1974 to 1991 at Salomon Brothers (now part of Citigroup ) and initially held various positions. From 1980 to February 1988 he was General Partner and from February 1988 to 1991 Vice Chairman of the Board. In 1991 he had to vacate his seat together with CEO John Gutfreund , as they had allowed Salomon Brothers to secretly receive higher stakes in the auction of US Treasuries for months than the maximum allowed by law of 35 percent. He also had a fine of 50,000 US dollars to pay.
In 1994 he founded Long-Term Capital Management . The fund suffered billions in losses in 1998 in the wake of the so-called Russian crisis. A collapse would have shaken the financial world. The US Federal Reserve therefore intervened. In 1999, Meriwether was a founder and partner at JWM Partners LLC , which in 2006 had $ 2 billion under management.
This hedge fund also suffered heavy losses after an initial phase of success. In the course of the financial crisis from 2007 , the fund lost 44 percent of its value by February 2009 and was closed in July 2009.
Individual evidence
literature
- Roger Lowenstein: When Genius Failed: The Rise and Fall of Long-Term Capital Management , ISBN 1-84115-504-7
- Nicholas Dunbar: Inventing Money. The story of Long-Term Capital Management and the legends behind it , ISBN 0-471-49811-4
- Michael Lewis: Liar's Poker , ISBN 0-14-014345-9
| personal data | |
|---|---|
| SURNAME | Meriwether, John |
| ALTERNATIVE NAMES | Meriwether, John W. |
| BRIEF DESCRIPTION | American Wall Street dealer |
| DATE OF BIRTH | August 10, 1947 |
| PLACE OF BIRTH | Chicago |