Apr 24

White House Former Chief Of Staff Joins Hedge Fund Launched By Former JPM Prop Traders (ZeroHedge, April 24, 2014):

“The amount of experience he has is ridiculous,” says former JPM prop trader Galuti, adding “- in a positive way,” as he explains why former Clinton Commerce secretary (and Obama chief of staff) Bill Daley has joined the small Swiss-based hedge fund. The revolving door of favors continues as Daley, who The FT reports will be based in Chicago and oversee US expansion (as well as provide macroeconomic and political advice), joins an ever-growing number of former Obama administration officials to have taken jobs in the financial sector.

As The FT reports, Bill Daley, the former White House chief of staff, is to join the hedge fund Argentière Capital, which was founded last year by leaders of JPMorgan’s disbanded proprietary trading division.

Mr Daley, who was also Commerce Secretary under President Bill Clinton, joins a number of former Obama administration officials to have taken jobs in the financial sector.

He will be based in Chicago and help spearhead the fund’s US expansion, as well as provide macroeconomic and political advice.

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