Today’s New York Times’ DealBook reports the recent move of Jenna Dabbs from the US Attorney’s office in Manhattan to Pershing Square Capital Management, investor William A. Ackman’s $18 billion hedge fund. Dabbs will act as senior counsel, working on regulatory and compliance issues.
In the article, JW Michaels managing partner Jason Wachtel discussed the growing trend of seasoned prosecutors moving to hedge funds and private equity firms:
“An added perk of bringing in a former prosecutor is that it carries a good deal of gravitas with investors — especially the big public pension plans that sink a lot money into hedge funds and private firms,”
said Jason Wachtel, a managing partner with JW Michaels & Company, a recruitment firm that specializes in hiring compliance officers and lawyers for hedge funds and private equity firms.
“It sends a clear message to employees and regulators that the fund takes their compliance program seriously,” Mr. Wachtel said.
You can read the full article by Matthew Goldstein here: http://dealbook.nytimes.com/2015/02/06/ex-u-s-prosecutor-dabbs-joins-ackmans-pershing-square/?_r=0