Fairholme appoints Fraenkel as president
Fairholme has appointed Fred Fraenkel as president of the firm.
Fraenkel will continue to serve in his current role as chief research officer of Fairholme Capital Management, where he oversees all of the firm’s research activities.
“Fred’s role as president is an exciting development for Fairholme,” says Bruce Berkowitz, chief investment officer and managing member of Fairholme. “Fred’s extensive experience in the mutual fund and hedge fund space has proved invaluable to the Firm. This is just a formal announcement of what has already been the reality, and it allows me to focus on what I do best – investing.”
“I am excited to help lead Fairholme as we continue to ignore the crowd by seeking out undervalued opportunities,” says Fraenkel.
Prior to joining Fairholme in 2011, Fraenkel was the vice chairman of Beacon Trust Company where he ran the investment process and published investment strategy. He has over 30 years of investing experience including membership in Barron’s year-end roundtable from 1982 to 1985 and heading global research at Lehman Brothers in the 1990s. He was formerly the chairman of Millennium 3 Capital, a venture firm specialising in early stage companies. Before founding Millennium 3 Capital in 2000, Fraenkel served as vice chairman of ING Barings Furman Selz and chief operating officer of Furman Selz.
Fraenkel also spent seven years at Lehman Brothers, where he was a managing director and director of global research overseeing 110 analysts located in New York, London, Tokyo and Hong Kong.
Before Lehman Brothers, Fraenkel was chairman and chief executive Officer of Market America Group, an investment advisory firm. He also spent four and a half years as director of equity research and a member of the board of directors at Prudential Securities.
The Wealth Adviser Awards 2013 for the top wealth manager and service providers will be held in London towards the end of Q1 2013. Please click here to nominate your product/firm.
- By Category
- News from other sites
- Special Reports
- Partner events