Not all bad news out of Bear Stearns University! BusinessWeek‘s Matthew Goldstein reports that BSC alum Richard Marin’s got a new job. Marin, the former chairman of BS Asset Mangement, recently unleashed Pointwalk Solutions Network on the world.
PSN is a support group for “senior executives in the financial services space,” where they can discuss whatever’s on their minds in a non-judgmental setting. Building upon the “very instructive lessons” Marin learned last summer while watching the two ridiculously-named hedge funds he was in charge of go under, Pointwalk’s first initiative is a networking group for hedge fund chief operating officers. In this safe space, they’ll have the opportunity to trade information and share thoughts on stuff like “operational risk,” asset “valuation,” and any other topics of their choosing. For instance, the importance of having statements ready to fire at random for why your side-gig as a movie reviewer is actually adding, and not subtracting, value, in spite of evidence to the contrary. Future speakers, one hopes, are slated to include Marin’s former colleagues Ralph Cioffi and Matthew Tannin, provided such appearances don’t violate the terms of their bail.
A Bear executive’s Wall Street comeback [BusinessWeek]