Richard C. Breeden
Encyclopedia
Richard C. Breeden is a former Chairman of the U.S. Securities and Exchange Commission, hedge fund
manager, and corporate chairman.
Mr. Breeden was also highly involved with S.E.C. investigation of Hollinger International and Conrad Black
in which Black was convicted in Illinois to serve 78 months in prison and pay $6.1 million to Hollinger and a fine of $125,000. Mr. Breeden is one of the named parties in a $872 million dollar liable suit in Canada initiated by Conrad Black after the conviction.
Breeden served as non-executive Chairman of the Board of H&R Block
, following a successful proxy contest in 2007 to 2011. He also serves as a director of Zale Corporation and STERIS Corp. and has previously served as a director of BBVA, SA, one of the 20 largest banks in the world. Mr. Breeden has served on approximately 15 corporate or advisory boards during his career.
In 2006 Breeden foundeed Breeden Partners which he is Chairman of, and its manager Breeden Capital Management. Breeden is the founding partner of Breeden Partners Europe, which was launched in December, 2008.
in 1972 and received his J.D. from Harvard Law School in 1975. He currently lives in Greenwich, Connecticut
with his 2nd wife, Linda H. Breeden. Breeden is the father of five sons.
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...
manager, and corporate chairman.
Early career
Breeden began his career practicing corporate and securities law in New York City. During the administrations of Presidents Reagan, Bush (I) and Clinton, he held a series of government posts, including assistant to the President for issue analysis under President Bush senior.U.S. Securities and Exchange Commission
From 1989 to 1993, Breeden served as Chairman of the U.S. Securities and Exchange Commission. During his tenure, Breeden's actions include- changing US proxy rules to create "short slate" proxy contests;
- changing the rules to allow institutional investors to discuss performance problems at companies;
- creating the "compensation discussion and analysis" section of the proxy;
- requiring graphical presentations of share performance;
- requiring disclosure of equity grants and valuation for the first time;
- requiring listing of the names of compensation committee members;
- broadening the scope for permissible shareholder resolutions in areas relating to compensation and governance.
Career
For more than a decade prior to launching Breeden Partners, Breeden and his consulting firm Richard C. Breeden & Co. LLC served as advisors to companies engaged in restructurings or turnarounds of distress situations. Many of these companies experienced fraud, compliance problems or serious governance abuses, as well as prolonged performance difficulties. For example, Mr. Breeden led the turnaround of WorldCom, Inc., and he has served as the monitor of the accounting firm KPMG in its successful recovery from criminal activities involving abusive tax shelters. Prior to forming his own firm Mr. Breeden served as chairman of the worldwide financial services practice of Coopers & Lybrand.Mr. Breeden was also highly involved with S.E.C. investigation of Hollinger International and Conrad Black
Conrad Black
Conrad Moffat Black, Baron Black of Crossharbour, OC, KCSG, PC is a Canadian-born member of the British House of Lords, and a historian, columnist and publisher, who was for a time the third largest newspaper magnate in the world. Lord Black controlled Hollinger International, Inc...
in which Black was convicted in Illinois to serve 78 months in prison and pay $6.1 million to Hollinger and a fine of $125,000. Mr. Breeden is one of the named parties in a $872 million dollar liable suit in Canada initiated by Conrad Black after the conviction.
Breeden served as non-executive Chairman of the Board of H&R Block
H&R Block
H&R Block is a tax preparation company in the United States, claiming more than 22 million customers worldwide, with offices in Canada, Australia and the United Kingdom. The Kansas City-based company also offers banking, personal finance and business consulting services.Founded in 1955 by brothers...
, following a successful proxy contest in 2007 to 2011. He also serves as a director of Zale Corporation and STERIS Corp. and has previously served as a director of BBVA, SA, one of the 20 largest banks in the world. Mr. Breeden has served on approximately 15 corporate or advisory boards during his career.
In 2006 Breeden foundeed Breeden Partners which he is Chairman of, and its manager Breeden Capital Management. Breeden is the founding partner of Breeden Partners Europe, which was launched in December, 2008.
Personal
Breeden was the oldest of three children and grew up in Manhattan Beach, California. He graduated from Stanford UniversityStanford 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...
in 1972 and received his J.D. from Harvard Law School in 1975. He currently lives in Greenwich, Connecticut
Greenwich, Connecticut
Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2010 census, the town had a total population of 61,171. It is home to many hedge funds and other financial service companies. Greenwich is the southernmost and westernmost municipality in Connecticut and is 38+ minutes ...
with his 2nd wife, Linda H. Breeden. Breeden is the father of five sons.