Former JPM Executive Bill Winters Sets Up Renshaw Bay
February 17 2011 - 3:15AM
Dow Jones News
Bill Winters, former co-chief executive of JP Morgan Chase &
Co's (JPM) investment bank, Thursday said he has started a new
asset management company backed by listed investment vehicles RIT
Capital Partners PLC (RCP.LN) and Reinet Investments SCA
(REVNF).
The new company, Renshaw Bay, will be half-owned by Winters--who
will be chief executive and chairman--and half-held by RIT and
Reinet. The company said it will advise new and existing funds and
investment companies and may create or acquire its own investment
management capabilities.
RIT is a London-listed investment trust whose chairman is Jacob
Rothschild and Reinet Investments trades in Luxembourg under the
chairmanship of Johann Rupert.
Winters left JP Morgan in September 2009, after having
previously been seen as a potential successor to Chief Executive,
Jamie Dimon. Since then, his activities have included a seat on the
U.K.'s Independent Commission on Banking studying ways to improve
competition and financial stability in U.K. banking.
"Our objective is to build a global alternative asset management
and advisory business that provides outstanding and differentiated
investment opportunities for our founding shareholders as well as
other sophisticated investors who value our strong focus on risk
management and alignment between investors and investment
managers," Winters said in a statement.
-By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451;
margot.patrick@dowjones.com