Crain's New York - April 29, 2013 - (Page 7)

BUSINESS PEOPLE $4,943 Average monthly salary for Deutsche Bank interns, the highestpaid on Wall Street Source: Glassdoor.com EXECUTIVE MOVES buck ennis KEN LIPPER, art collector (that’s a Frank Stella painting, circa 1974) and Oscar winner, is once again making money in the stock market. GOTHAM GIGS Getting back in the game His name cleared, Ken Lipper invests in future ‘This time around, I’m just dependent on myself’ Ken Lipper is back to investing, more than a decade after he was forced to shutter a $4 billion fund business, Lipper & Co., when he discovered one of his investment managers had been hiding losses. What followed was a years-long, reputation-shattering nightmare filled with multimillion-dollar fraud lawsuits from investors, and a fall that was as swift as his rise was meteoric. ¶ “I was willing to work behind the counter cutting lox; I applied to Russ and Daughters,” Mr. Lipper, 71, said. “I just wanted to work.” ¶ By 30, he was a partner at Lehman Brothers. He later spent three years as a deputy mayor under Ed Koch. In the 1990s, he published a line of biographies with Penguin and was writing and producing films, all while building his fund business. In 1999, he won an Oscar with Steven Spielberg for producing the Holocaust documentary The Last Days. ¶ But the fraud charges sparked a 10-year legal battle. A turning point came about five years ago during a heated legal meeting with investors bent on bankrupting him even though he had shown that the auditor, PricewaterhouseCoopers, had missed the fraud.¶ “I bumped into one of the lawyers in the bathroom,” Mr. Lipper said. “He said to me, ‘Guys like you always settle.’ ”¶ Though his manager spent six years in prison, Mr. Lipper not only cleared his name in 2011, but also received $20 million to pay for his legal fees. He’s now writing a book about the experience, and growing Lipper & Co. by once again picking stocks—he likes DuPont, the chemical business, for its subsidiary Pioneer, a manufacturer of genetically modified seeds. ¶ “When you have 700 securities and 24 funds, by definition you’re heavily dependent on others,” he said. “This time around, I’m just dependent on myself.” —daniel geiger MRM: Michael Mclaren, 49, was promoted to president of the digital marketing agency. He was previously president, MRM East, and global client solutions director. Andy Jacobs, 54, was promoted to global chief technology officer. He was previously chief technology officer. He will continue as director, global partnerships. The Vortex Group: Josh Stuart, 35, joined the commercial real estate firm as executive director. He was previously an associate at Flinn Ferguson Corporate Real Estate. Colliers International: Craig Caggiano, 43, joined the real estate firm as executive director. He was previously the leader of the New York City practice group at Travers Realty Co. Clusters Ltd.: Suki Sohn, 40, joined the real estate firm as managing director of its U.S. division. She was previously partner at This Way Up. Hudson Realty Capital: Andrew Bloom, 39, was promoted to managing director at the real estate firm. He was previously director. Heather Mutterperl, 46, was promoted to managing director. She was previously director. Grace Miller, 49, was promoted to managing director. She was previously director. Arabella Advisors: Elliot Berger, 47, joined the philanthropy services firm as managing director. He was previously a wealth management adviser at Merrill Lynch Private Client Group. Madison Realty Capital: Philip Schanzer, 39, joined the real estate company as managing director. He was previously vice president of construction and development at Marx Realty & Improvement Co. New York City Bar Association: Bret Parker, 45, joined the professional organization as executive director. He was previously vice president and associate general counsel at Elizabeth Arden Inc. Phyllis Weisberg, 64, was named chair of its cooperative and condominium law committee. She will continue as a partner at Montgomery McCracken. McGladrey: Marc Chase, 42, was promoted to senior director, national private-equity sponsor coverage, at the assurance, tax and consulting company. He was previously director, New York sponsor coverage. Asset Enhancement Solutions: Douglas Asofsky, 61, joined the financial services company as director, a newly created position. He was previously senior vice president and national director of SBA lending at Citibank. —eva saviano April 29, 2013 | Crain’s New York Business | 7 http://www.Glassdoor.com

Table of Contents for the Digital Edition of Crain's New York - April 29, 2013

IN THE BOROUGHS
IN THE MARKETS
THE INSIDER
BUSINESS PEOPLE
REAL ESTATE DEALS
SMALL BUSINESS
OPINION
GREG DAVID
REPORT: EDUCATION
THE LIST
FOR THE RECORD
CLASSIFIEDS
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS

Crain's New York - April 29, 2013