Word: seidner
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Dates: during 2000-2009
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...reasons behind the departures of Seidner, HMC's managing director for domestic fixed income, and Michael Llodra, a member of the fixed-income investment team, are unclear. But the news comes four months after HMC announced it would lay off roughly 50 workers, or a quarter of its staff, to "re-balance and re-engineer the organization...
University spokesman John D. Longbrake declined to comment on the departures, the investors' performance at the Company, and HMC's plans to fill the positions, citing Harvard's policy of not discussing personnel issues. Neither Seidner nor Llodra could be reached for comment Monday afternoon...
...departures of Seidner and Llodra may hamper HMC's ability to take advantage of investment opportunities that arise as financial markets recover. Mendillo recently stated in an interview with The Crimson that she saw the economic crisis as an "opportunity for change" that she hoped the Company could use to its advantage, noting that she would be looking to hire some top-notch traders in the coming months as well...
According to Bloomberg, Stephen Blyth, HMC's managing director of international fixed income, will take over Seidner's duties on an interim basis...
...Seidner, who was the company's second-highest paid official in 2008 with $6.3 million in compensation, was hired in 2006 after an exodus of investment managers left HMC with a substantial vacuum in its bond division. Former bond managers Maurice Samuels and David R. Mittelman, who earned $25.3 million and $25.4 million respectively in 2004, left the company with legendary HMC CEO Jack R. Meyer in 2005 to form a private hedge fund, Convexity Capital Management, after enduring repeated public criticism for what some considered to be exorbitant...