New York (HedgeCo.Net) – Former Federal Reserve governor Jeremy C. Stein has agreed to consult at $20 billion hedge fund BlueMountain Capital Management, the Wall Street Journal reports. Stein is also a Harvard economics professor.
The WSJ says: “Hedge funds, and alternative-investment firms more generally, have been attractive destinations for exiting government officials. Former Federal Reserve Chairman Alan Greenspan and ex-Reagan economic adviser Martin Feldstein accepted paid roles on a now-disbanded economic advisory board at John Paulson’s hedge-fund firm that started in 2008.”
Stein will advise BlueMountain on a range of issues, including implications of monetary and macroprudential policies, financial regulation and market evolution, and risk and capital management.
“I’m excited to be working with the BlueMountain team,” said Professor Stein. “They are at the cutting edge with respect to the development of both investment strategies and risk management tools, and I look forward to learning much more about the markets from my collaboration with them.”
“We’re very lucky to have the opportunity to work with Jeremy,” said Andrew Feldstein, CEO of BlueMountain. “He has been widely recognized by leaders in government, academia and the private sector for his talent and impact. His experience, research interests, and intellect will add real value to BlueMountain’s investors.”
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