Richard A. Marin (born January 30, 1954) is a former American

investment banker Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with ...

at the former New York

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

Bear Stearns The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase. The comp ...

. Marin attended

Cornell University Cornell University is a private statutory land-grant research university based in Ithaca, New York. It is a member of the Ivy League. Founded in 1865 by Ezra Cornell and Andrew Dickson White, Cornell was founded with the intention to tea ...

, where he obtained his

B.A. Bachelor of arts (BA or AB; from the Latin ', ', or ') is a bachelor's degree awarded for an undergraduate program in the arts, or, in some cases, other disciplines. A Bachelor of Arts degree course is generally completed in three or four yea ...

economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...

and government in 1975. He then attended Cornell's business school, the Johnson School, where he received an

MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

in finance in 1976. Upon graduation he joined the New York bank

Bankers Trust Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corpo ...

and built up the derivatives business. He spent twenty-three years at Bankers Trust and was a member of the Management Committee when they sold themselves to Deutsche Bank. After Bankers Trust was acquired by

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

, he became the chairman of Deutsche Bank Asset Management, Inc. In March 2000, he left Deutsche Bank to found and run Beehive Ventures LLC, a New York-based

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...

fund specializing in financial services. In June 2003, he was hired by Bear Stearns to be chairman and CEO of Bear Stearns Asset Management. He went on to be chairman and CEO of AFI(USA), a $3 billion distressed commercial real estate company. Since then he was CEO of Ironwood Global, a distressed mortgage fund, and he is the former president and CEO of New York Wheel LLC, a company building a giant

Ferris wheel A Ferris wheel (also called a Giant Wheel or an observation wheel) is an amusement ride consisting of a rotating upright wheel with multiple passenger-carrying components (commonly referred to as passenger cars, cabins, tubs, gondolas, capsule ...

on Staten Island. In 2019 he joined as Managing Director SEDA Experts LLC, a consulting firm providing financial services elite expert witness services. His philanthropic activities include Cornell University and CARE, the global relief and development agency. Two of Bear Stearns'

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 s ...

s, the "High-Grade Structured Credit Fund" and the High-Grade Structured Credit Enhanced Leveraged Fund, collapsed in June 2007, requiring bail out, and putting Marin at the center of the news. On June 22, 2007, Bear Stearns pledged a collateralized loan of up to $3.2 billion to bail out the High-Grade Structured Credit Fund. While covering the story. The

New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

, discovered that Marin had a blog, entitled "Whim of Iron," and on June 28, 2007 published what Marin had posted there. The blog had mostly innocuous entries, chiefly concerning his critiques of movies, his travel to

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...

and elsewhere, and how he lost weight after bariatric surgery. It also stated that in dealing with the crisis over Bear Stearns' hedge funds he felt like

Leonidas Leonidas I (; grc-gre, Λεωνίδας; died 19 September 480 BC) was a List of kings of Sparta#Heraclids, king of the Greek city-state of Sparta, and the 17th of the List of kings of Sparta#Agiad dynasty, Agiad line, a dynasty which claimed d ...

and the

Sparta Sparta ( Doric Greek: Σπάρτα, ''Spártā''; Attic Greek: Σπάρτη, ''Spártē'') was a prominent city-state in Laconia, in ancient Greece. In antiquity, the city-state was known as Lacedaemon (, ), while the name Sparta referre ...

ns fighting off the

Persia Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...

ns in

300 __NOTOC__ Year 300 ( CCC) was a leap year starting on Monday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Constantius and Valerius (or, less frequently, year 1053 ''Ab ...

. Twenty-four hours later Marin was relieved from his major duties at Bear Stearns and shunted aside to a job as an adviser. Marin's blog was accessible on June 28, 2007. As of June 29, 2007 it ceased to be accessible to the general public, but many of its entries can be read through caches. After a several year absence, Marin has returned to the world of blogging with a new venture. The site follows his earlier efforts in reviewing theatrical films, only this time with a slant towards the world of hedge funds.

References

External links

Richard Marin's blog on Blogspot.com
{{DEFAULTSORT:Marin, Richard 1953 births Living people American bloggers American chief executives of financial services companies American investment bankers American money managers Philanthropists from New York (state) Bear Stearns Businesspeople from New York City Samuel Curtis Johnson Graduate School of Management alumni Bear Stearns people