Alexandra Stevenson and Kate Kelly report on Dawn Fitzpatrick becoming the chief investment officer of Soros Fund Management, which manages around $26 billion of Mr. Soros’s personal and family wealth. She is now the head of a family office for one of the finance world’s most famous investor, facing her biggest and most public challenge of her career.
Since 2000, Soros Fund Management has churned through eight chief investment officers. It’s a remarkable turnover for the top of any company, even among hedge funds, which are known for a cutthroat culture. It’s even less typical in the sleepy world of family offices, where employees manage the assets of a single clan, which is how the Soros funds are now structured after years of accepting outside investor money.
In the world of finance, women can find themselves at a disadvantage, their careers stymied by overt sexism and implicit bias alike. The paucity of senior positions held by women in banks and other financial firms, which a recent Financial Times survey put at less than 26 percent, would seem to underscore that belief.
As the first female chief investment officer at Soros, Ms. Fitzpatrick becomes a woman with few peers; most everyone managing such a large pot of money on Wall Street is a man.
Posted by Jacqueline Groccia, Associate Editor, Wealth Strategies Journal.