Gregory Dale Hawkins was a trader and principal in the
hedge fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...
Long-Term Capital Management
Long-Term Capital Management L.P. (LTCM) was a highly-leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York.
LTCM was founded in 1 ...
that after four spectacularly successful years lost most of its clients' money in 1998 when
the Russian government defaulted on its debt payments on August 17, 1998, triggering a devaluation of the Russian
ruble
The ruble (American English) or rouble (Commonwealth English) (; rus, рубль, p=rublʲ) is the currency unit of Belarus and Russia. Historically, it was the currency of the Russian Empire and of the Soviet Union.
, currencies named ''rub ...
. Long-Term Capital had $4.6 billion in portfolio losses in a few months and only avoided outright bankruptcy because the
U.S. central bank prompted a consortium of large global investment banks and counter-parties of LTCM to provide an equity bailout. LTCM shutdown in early 2000.
Hawkins lives in
New Rochelle
New Rochelle (; older french: La Nouvelle-Rochelle) is a city in Westchester County, New York, United States, in the southeastern portion of the state. In 2020, the city had a population of 79,726, making it the seventh-largest in the state of ...
in
Westchester County
Westchester County is located in the U.S. state of New York. It is the seventh most populous county in the State of New York and the most populous north of New York City. According to the 2020 United States Census, the county had a population o ...
,
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
.
Early life
Hawkins earned an
S.B. in economics from MIT in 1976 and a Ph.D. in management from the
MIT Sloan School of Management
The MIT Sloan School of Management (MIT Sloan or Sloan) is the business school of the Massachusetts Institute of Technology, a private university in Cambridge, Massachusetts.
MIT Sloan offers bachelor's, master's, and doctoral degree programs, ...
in 1982.
Career
On 27 February 2008, Hawkins was put in control of Risk Oversight of Real Estate and Mortgage Exposure for Citibank.
www.citigroup.com
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See also
*1998 Russian financial crisis
The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had s ...
*Long-Term Capital Management
Long-Term Capital Management L.P. (LTCM) was a highly-leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York.
LTCM was founded in 1 ...
References
*
*
San Jose State University Economics Department page on LTCM
Year of birth missing (living people)
Living people
American investors
American money managers
MIT Sloan School of Management alumni
Businesspeople from New Rochelle, New York
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