Arthur J. Samberg
Encyclopedia
Arthur J. Samberg was the chief investment officer
, president and chairman of Pequot Capital Management
, a $5 billion hedge fund with approximately $510 million dollars of uncalled capital.
degree from Massachusetts Institute of Technology
. He earned his M.S. from Stanford University
. He also earned an MBA from Columbia Business School
in 1967.
Samberg began his Wall Street
career at Kidder, Peabody and worked as an aerospace engineer at Lockheed Missle and Space Company
after graduating from college.
Prior to establishing Pequot Capital in 1999, Samberg served as President of Dawson-Samberg Capital Management, where he established the first Pequot investment fund in 1986. Before joining Dawson, Samberg was an employee and partner at Weiss, Peck & Greer, Inc. and served as a member of their management committee.
with Microsoft stock in 2001, based on information acquired from David Zilkha, a prospective new hire from Microsoft. Pequot's heavy trading of Heller Financial caught SEC attention in 2004 and was initially investigated by Gary J. Aguirre
, then at the SEC. Documents revealed in Zilkha's divorce proceedings led to renewed investigations and the settlement with Pequot and Samberg.
On May 28, 2009, with an insider trading investigation ongoing, Samberg wrote, "With the situation increasingly untenable for the firm and for me, I have concluded that Pequot can no longer stay in business."
and other philanthropic organizations. He is chairman emeritus of the Jacob Burns Film Center
.
He is a life member of the MIT Corporation, and served as chairman of the MIT Investment Management Company and ex-officio member of the MIT executive committee. He is co-chair of the board of overseers of the Columbia Business School.
Chief investment officer
The chief investment officer is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as the liaison with investors, and recognize and avoid...
, president and chairman of Pequot Capital Management
Pequot Capital Management
Pequot Capital Management was a multi-billion dollar hedge fund sponsor founded in 1998 by Arthur J. Samberg that was forcibly terminated by order of the Securities and Exchange Commission in 2010. The firm's investment funds invested in a range of markets through a variety of strategies...
, a $5 billion hedge fund with approximately $510 million dollars of uncalled capital.
Early life
Samberg was born in the Bronx in 1941 to an electrician. He received a Bachelor of ScienceBachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
degree from Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
. He earned his M.S. from Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
. He also earned an MBA from Columbia Business School
Columbia Business School
Columbia Business School is the business school of Columbia University in Manhattan, New York City. It was established in 1916 to provide business training and professional preparation for undergraduate and graduate Columbia University students...
in 1967.
Samberg began his Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
career at Kidder, Peabody and worked as an aerospace engineer at Lockheed Missle and Space Company
Lockheed Martin Space Systems
Lockheed Martin Space Systems Company is one of the four major business divisions of Lockheed Martin. It is headquartered in Denver, Colorado with additional sites in Sunnyvale, California; Newtown, Pennsylvania; Huntsville, Alabama; and elsewhere in the US and UK...
after graduating from college.
Prior to establishing Pequot Capital in 1999, Samberg served as President of Dawson-Samberg Capital Management, where he established the first Pequot investment fund in 1986. Before joining Dawson, Samberg was an employee and partner at Weiss, Peck & Greer, Inc. and served as a member of their management committee.
SEC settlement
In May 2009, the firm announced it was closing and, in an agreement with the U.S. Securities and Exchange Commission (SEC) on May 27, 2010, paid a $28 million fine consisting of $18 million in returned profit and $10 million in penalties. Additionally, Samberg was barred from working as an investment adviser. He was accused of insider tradingInsider trading
Insider trading is the trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company...
with Microsoft stock in 2001, based on information acquired from David Zilkha, a prospective new hire from Microsoft. Pequot's heavy trading of Heller Financial caught SEC attention in 2004 and was initially investigated by Gary J. Aguirre
Gary J. Aguirre
Gary J. Aguirre is an American lawyer, former investigator with the United States Securities and Exchange Commission and whistleblower. After working in a law firm briefly, he became a public defender, then worked as a trial lawyer in California. Having reached his professional and financial...
, then at the SEC. Documents revealed in Zilkha's divorce proceedings led to renewed investigations and the settlement with Pequot and Samberg.
On May 28, 2009, with an insider trading investigation ongoing, Samberg wrote, "With the situation increasingly untenable for the firm and for me, I have concluded that Pequot can no longer stay in business."
Personal
Samberg serves on the board of trustees and executive and investment committees of New York-Presbyterian Hospital, the board of directors of Historic Hudson ValleyHistoric Hudson Valley
Historic Hudson Valley is a not-for-profit educational and historic preservation organization headquartered in Tarrytown, New York, in Westchester County...
and other philanthropic organizations. He is chairman emeritus of the Jacob Burns Film Center
Jacob Burns film center
The Jacob Burns Film Center is a nonprofit cultural arts center located inPleasantville, NY. It occupies a moviehouse that was for many decades known as the Rome Theater.-External links:*...
.
He is a life member of the MIT Corporation, and served as chairman of the MIT Investment Management Company and ex-officio member of the MIT executive committee. He is co-chair of the board of overseers of the Columbia Business School.