Arpad Busson
Encyclopedia
Arpad A. Busson is a London
-based socialite and Swiss
financier
. Busson entered the world of hedge fund
s in 1986 working in New York
. He is the founder and Chairman of the EIM Group, a fund-of-funds company. Mr. Busson is also very active in a number of philanthropic causes around the globe.
. His father Pascal Busson was a former French army officer and Algeria
veteran, and later turned financier. His mother, Florence "Flockie" Harcourt-Smith, was an English
former debutante
. Busson's aunt, Joanna Harcourt-Smith,
was a companion of Timothy Leary
. His parents met in Paris
and named their son after the Hungarian
-born banker Árpád Plesch (1889–1974), who was not only Florence Busson's stepfather (he was the second husband of her mother, Marysia Ulam Krauss Harcourt-Smith), but also her stepgrandfather (Plesch's first wife was his second wife's mother, Leonie Ulam). Plesch also was a mentor to Italy's richest man, the late head of Fiat, Gianni Agnelli
.
Growing up in France, some sources have suggested that Busson made early profits selling toothpick
s door-to-door (which he denies), but he was educated in France
and at the Institut Le Rosey
in Switzerland
. He then served national service as a medic in the French army, where a friend said: "He loved the discipline of the army - it was the making of him.".
On being demobilised, Busson had a well-publicised relationship with the actress Farrah Fawcett
and appeared in tabloid gossip columns. As he often refuses to give interviews, stories surround Busson - the story about Fawcett is that he masqueraded as an Italian prince on the French Riviera
where he wooed Fawcett away from Ryan O'Neal
. The story is only partly true, in that it was perpetuated by the gossip columnist "Taki"
as a sort of in-joke: Taki knew Busson's mother, who was friends with Fawcett; Busson's father often met Fawcett at dinner parties.
in 1981 where he worked as a real-estate broker.
Busson then started to make a good deal of money after he studied how to invest on behalf of others. Busson entered the world of hedge fund
s in 1986 working in Paris for Bernard Loze. Then employed as marketing representative by Paul Tudor Jones
’s fund Tudor Investments.
In 1991, Mr. Busson founded the EIM Group to provide fund-of-fund management services to the growing institutional market for hedge funds. In 1995, EIM had seven employees with $100 million under management.
On December 8, 2008 EIM was reported as being a victim of a ponzi scheme
” which seeks to multiply the effectiveness of charitable pursuits by applying to them the same management practices which are used in business ventures.
Busson is a founding trustee of the children's charity ARK (Absolute Return for Kids
) and serves as chairman of its board of directors. Busson held the post of Chairman since the charity’s inception. He stepped down from that position in 2009 but remains a member of the Board as founding chairman, and as chairman of ARK US.
ARK raises charitable contributions from the hedge fund industry for children who are victims of abuse, disability, illness and poverty. ARK finances and manages projects aimed at transforming the lives of children in Eastern Europe, South Africa and the UK through education and healthcare.
The annual Ark Dinner hosted by Mr. Busson sees a range of high profile individuals attend the event to raise money for the charity. Previous years have seen the likes of Bill Clinton
(2006), Queen Rania of Jordan (2010) and in 2011 the Duke and Duchess of Cambridge took the limelight as Prince William announced a joint venture by the Foundation of Prince William and Prince Harry and the Ark charity.
Its activities include funding treatment for AIDS
victims in Africa
, taking children out of care in Bulgaria
and Romania
and developing educational opportunities for disadvantaged children in India
. It also operates eight academies, six of which are in London, through its subsidiary charity ARK Academies.
Busson says of ARK: "If we can apply the entrepreneurial principles we have brought to business to charity, we have a shot at having a really strong impact, to be able to transform the lives of children."
, Arpad Flynn Alexander Busson and Aurelius Cy Andrea Busson. The couple got engaged in August 2003.
The couple parted in July 2005, and issued a joint statement: "Whilst remaining the greatest of friends, we have decided to spend some time apart to consider our future. We have had, and in many ways continue to have, a wonderful relationship, which has produced two beautiful children. There is no third party involved.
Busson was engaged to actress Uma Thurman
. On 8 December 2009 it was reported that the two had broken up.
In 2006, Busson was voted the seventh most wanted person at a party in the United Kingdom, according to Tatler
magazine - while Macpherson was voted in at eleventh.
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
-based socialite and Swiss
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
financier
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
. Busson entered the world of hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
s in 1986 working in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
. He is the founder and Chairman of the EIM Group, a fund-of-funds company. Mr. Busson is also very active in a number of philanthropic causes around the globe.
Early life
Busson was born in FranceFrance
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
. His father Pascal Busson was a former French army officer and Algeria
Algeria
Algeria , officially the People's Democratic Republic of Algeria , also formally referred to as the Democratic and Popular Republic of Algeria, is a country in the Maghreb region of Northwest Africa with Algiers as its capital.In terms of land area, it is the largest country in Africa and the Arab...
veteran, and later turned financier. His mother, Florence "Flockie" Harcourt-Smith, was an English
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
former debutante
Debutante
A débutante is a young lady from an aristocratic or upper class family who has reached the age of maturity, and as a new adult, is introduced to society at a formal "début" presentation. It should not be confused with a Debs...
. Busson's aunt, Joanna Harcourt-Smith,
was a companion of Timothy Leary
Timothy Leary
Timothy Francis Leary was an American psychologist and writer, known for his advocacy of psychedelic drugs. During a time when drugs like LSD and psilocybin were legal, Leary conducted experiments at Harvard University under the Harvard Psilocybin Project, resulting in the Concord Prison...
. His parents met in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
and named their son after the Hungarian
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
-born banker Árpád Plesch (1889–1974), who was not only Florence Busson's stepfather (he was the second husband of her mother, Marysia Ulam Krauss Harcourt-Smith), but also her stepgrandfather (Plesch's first wife was his second wife's mother, Leonie Ulam). Plesch also was a mentor to Italy's richest man, the late head of Fiat, Gianni Agnelli
Gianni Agnelli
Giovanni Agnelli , better known as Gianni Agnelli , was an Italian industrialist and principal shareholder of Fiat. As the head of Fiat, he controlled 4.4% of Italy's GDP, 3.1% of its industrial workforce, and 16.5% of its industrial investment in research...
.
Growing up in France, some sources have suggested that Busson made early profits selling toothpick
Toothpick
A toothpick is a small stick of wood, plastic, bamboo, metal, bone or other substance used to remove detritus from the teeth, usually after a meal. A toothpick usually has one or two sharp ends to insert between teeth. They can also be used for picking up small appetizers or as a cocktail...
s door-to-door (which he denies), but he was educated in France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
and at the Institut Le Rosey
Institut Le Rosey
Institut Le Rosey, commonly referred to as Le Rosey or simply Rosey, is a school, in Gstaad, Switzerland. It is described as one of the most prestigious boarding schools in the world. The school was founded by Paul-Émile Carnal in 1880 on the site of the 14th-century Château du Rosey near the town...
in Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
. He then served national service as a medic in the French army, where a friend said: "He loved the discipline of the army - it was the making of him.".
On being demobilised, Busson had a well-publicised relationship with the actress Farrah Fawcett
Farrah Fawcett
Farrah Fawcett was an American actress and artist. A multiple Golden Globe and Emmy Award nominee, Fawcett rose to international fame when she first appeared as private investigator Jill Munroe in the first season of the television series Charlie's Angels, in 1976...
and appeared in tabloid gossip columns. As he often refuses to give interviews, stories surround Busson - the story about Fawcett is that he masqueraded as an Italian prince on the French Riviera
French Riviera
The Côte d'Azur, pronounced , often known in English as the French Riviera , is the Mediterranean coastline of the southeast corner of France, also including the sovereign state of Monaco...
where he wooed Fawcett away from Ryan O'Neal
Ryan O'Neal
Charles Patrick Ryan O'Neal , better known as Ryan O'Neal, is an American actor best known for his appearances in the ABC nighttime soap opera Peyton Place and for his roles in such films as Paper Moon , Stanley Kubrick's Barry Lyndon , A Bridge Too Far , and Love Story , for which he received...
. The story is only partly true, in that it was perpetuated by the gossip columnist "Taki"
Taki Theodoracopulos
Taki Theodoracopulos , originally named Panagiotis Theodoracopulos is a Greek/American journalist, socialite, and political commentator.Better known as Taki, diminutive for Panagiotis, he is a Greek-born journalist and writer living in New York City, London and Switzerland...
as a sort of in-joke: Taki knew Busson's mother, who was friends with Fawcett; Busson's father often met Fawcett at dinner parties.
Finance career
Busson first moved to New YorkNew York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
in 1981 where he worked as a real-estate broker.
Busson then started to make a good deal of money after he studied how to invest on behalf of others. Busson entered the world of hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
s in 1986 working in Paris for Bernard Loze. Then employed as marketing representative by Paul Tudor Jones
Paul Tudor Jones
Paul Tudor Jones II , is the founder of Tudor Investment Corporation, which is the management company for his various private investment partnerships, also referred to as hedge funds. As of March 2011, he was estimated to have a net worth of USD 3.3 billion by Forbes Magazine and ranked as 336th...
’s fund Tudor Investments.
In 1991, Mr. Busson founded the EIM Group to provide fund-of-fund management services to the growing institutional market for hedge funds. In 1995, EIM had seven employees with $100 million under management.
On December 8, 2008 EIM was reported as being a victim of a ponzi scheme
Ponzi scheme
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation...
Charity
Through dinners and Social events, Busson has been involved in charitable work. He is a well-known proponent of “venture philanthropyPhilanthropy
Philanthropy etymologically means "the love of humanity"—love in the sense of caring for, nourishing, developing, or enhancing; humanity in the sense of "what it is to be human," or "human potential." In modern practical terms, it is "private initiatives for public good, focusing on quality of...
” which seeks to multiply the effectiveness of charitable pursuits by applying to them the same management practices which are used in business ventures.
Busson is a founding trustee of the children's charity ARK (Absolute Return for Kids
Absolute Return for Kids
Absolute Return for Kids is an international children's charity based in the United Kingdom.ARK is a registered charity under English law and is based in London...
) and serves as chairman of its board of directors. Busson held the post of Chairman since the charity’s inception. He stepped down from that position in 2009 but remains a member of the Board as founding chairman, and as chairman of ARK US.
ARK raises charitable contributions from the hedge fund industry for children who are victims of abuse, disability, illness and poverty. ARK finances and manages projects aimed at transforming the lives of children in Eastern Europe, South Africa and the UK through education and healthcare.
The annual Ark Dinner hosted by Mr. Busson sees a range of high profile individuals attend the event to raise money for the charity. Previous years have seen the likes of Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
(2006), Queen Rania of Jordan (2010) and in 2011 the Duke and Duchess of Cambridge took the limelight as Prince William announced a joint venture by the Foundation of Prince William and Prince Harry and the Ark charity.
Its activities include funding treatment for AIDS
AIDS
Acquired immune deficiency syndrome or acquired immunodeficiency syndrome is a disease of the human immune system caused by the human immunodeficiency virus...
victims in Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
, taking children out of care in Bulgaria
Bulgaria
Bulgaria , officially the Republic of Bulgaria , is a parliamentary democracy within a unitary constitutional republic in Southeast Europe. The country borders Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, as well as the Black Sea to the east...
and Romania
Romania
Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...
and developing educational opportunities for disadvantaged children in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. It also operates eight academies, six of which are in London, through its subsidiary charity ARK Academies.
Busson says of ARK: "If we can apply the entrepreneurial principles we have brought to business to charity, we have a shot at having a really strong impact, to be able to transform the lives of children."
Personal life
Busson has two sons by his relationship with the model Elle MacphersonElle Macpherson
Elle Macpherson is an Australian model, actress, and businesswoman nicknamed "The Body". She is perhaps best known for her record five cover appearances for the Sports Illustrated Swimsuit Issue beginning in the 1980s...
, Arpad Flynn Alexander Busson and Aurelius Cy Andrea Busson. The couple got engaged in August 2003.
The couple parted in July 2005, and issued a joint statement: "Whilst remaining the greatest of friends, we have decided to spend some time apart to consider our future. We have had, and in many ways continue to have, a wonderful relationship, which has produced two beautiful children. There is no third party involved.
Busson was engaged to actress Uma Thurman
Uma Thurman
Uma Karuna Thurman is an American actress and model. She has performed in leading roles in a variety of films, ranging from romantic comedies and dramas to science fiction and action movies. Among her best-known roles are those in the Quentin Tarantino films Pulp Fiction and Kill Bill...
. On 8 December 2009 it was reported that the two had broken up.
In 2006, Busson was voted the seventh most wanted person at a party in the United Kingdom, according to Tatler
Tatler
Tatler has been the name of several British journals and magazines, each of which has viewed itself as the successor of the original literary and society journal founded by Richard Steele in 1709. The current incarnation, founded in 1901, is a glossy magazine published by Condé Nast Publications...
magazine - while Macpherson was voted in at eleventh.
External links
- EIM Group corporate website
- Profile in Bloomberg magazine