Home > News > Newsmakers > Scaramucci Sells SkyBridge to Join Trump Administration

NewsmakersJanuary 17, 2017

Scaramucci Sells SkyBridge to Join Trump Administration

The hedge fund-of-funds’ investment team will remain intact, while the annual SALT conference will be spun out.

Anthony Scaramucci, founder of SkyBridge Capital and its famed Las Vegas SALT conference, has sold the hedge funds-of-funds firm after being appointed advisor to President-elect Donald Trump.

Holding company RON Transatlantic and Chinese financial services firm HNA Capital agreed to purchase a majority stake in SkyBridge, the three firms announced Tuesday.

As part of the agreement, Scaramucci will step down from his role as co-managing partner and cease to be affiliated with both SkyBridge and SALT.

The announcement comes a week after news broke that Scaramucci, a member of Trump’s transition team, was tapped for a White House advisory job.

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“It has been an honor and privilege to help build SkyBridge and work alongside some of the most talented individuals in the asset management industry,” Scaramucci said in a statement. “While I am moving on to a new chapter in my career, I am truly excited about what the future holds for SkyBridge.”

Aside from Scaramucci’s departure, SkyBridge’s current senior management and investment team will “remain intact,” the firms stated.

The SALT conference, meanwhile, will be spun out as a standalone event. This year’s conference will still be held this May in Las Vegas as planned, according to the news release.

“SkyBridge and SALT are in great hands and will continue to thrive,” Scaramucci said.

The transaction is expected to close in the second quarter of this year.

Home > News > Newsmakers > New York Life Selects New CIO

Newsmakers January 17, 2017

New York Life Selects New CIO

Tony Malloy has succeeded John Kim who was elected as the insurer’s president last year.

New York Life, the US’ largest mutual life insurance company, has tapped a new CIO.

Tony Malloy will replace former investment chief John Kim, who was elected president of New York Life in May 2015 after spending seven years in the CIO role.

Malloy is currently CEO of NYL Investors, a New York Life subsidiary that manages $225 billion in fixed income and real estate investments. He will continue to fill that role in addition to assuming CIO responsibilities, the insurer said Tuesday.

Kim was elected President of New York Life in May 2015 after spending seven years in the chief investment role.

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“The CIO role is especially critical in a mutual insurance company given our long-term financial orientation and singular focus on being there for our policy owners whenever they need us,” Kim said in a statement. “Tony and the investment teams he oversees have performed masterfully in the face of relentlessly low interest rates and volatile equity markets.”

In addition to his appointment, Malloy will join New York Life’s executive management committee, the firm said. He will also report to Kim.

Malloy has spent 18 years with New York Life and previously served as senior managing director, head of fixed income, and head of leveraged finance. Prior to his tenure at the insurer, Malloy spent time as vice president of JP Morgan and director of TD.

He holds a bachelor’s degree from Middlebury College and an MBA from New York University.

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