Gregory Dale Hawkins was a trader and principal in the
hedge fund
A hedge fund is a Pooling (resource management), pooled investment fund that holds Market liquidity, liquid assets and that makes use of complex trader (finance), trading and risk management techniques to aim to improve investment performance and ...
Long-Term Capital Management
Long-Term Capital Management L.P. (LTCM) was a highly leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York.
LTCM was founded in ...
that after four spectacularly successful years lost most of its clients' money in 1998 when
the Russian government defaulted on its debt payments on August 17, 1998, triggering a devaluation of the Russian
ruble
The ruble or rouble (; rus, рубль, p=rublʲ) is a currency unit. Currently, currencies named ''ruble'' in circulation include the Russian ruble (RUB, ₽) in Russia and the Belarusian ruble (BYN, Rbl) in Belarus. These currencies are s ...
. Long-Term Capital had $4.6 billion in portfolio losses in a few months and only avoided outright bankruptcy because the
U.S. central bank prompted a consortium of large global investment banks and counter-parties of LTCM to provide an equity bailout. LTCM shutdown in early 2000.
Hawkins lives in
New Rochelle
New Rochelle ( ; in ) is a city in Westchester County, New York, United States. It is a suburb of New York City, located approximately from Midtown Manhattan. In 2020, the city had a population of 79,726, making it the 7th-largest city and 2 ...
in
Westchester County
Westchester County is a county located in the southeastern portion of the U.S. state of New York, bordering the Long Island Sound and the Byram River to its east and the Hudson River on its west. The county is the seventh most populous cou ...
,
New York
New York most commonly refers to:
* New York (state), a state in the northeastern United States
* New York City, the most populous city in the United States, located in the state of New York
New York may also refer to:
Places United Kingdom
* ...
.
Early life
Hawkins earned an
S.B. in economics from MIT in 1976 and a Ph.D. in management from the
MIT Sloan School of Management
The MIT Sloan School of Management (branded as MIT Sloan) is the business school of the Massachusetts Institute of Technology, a private university in Cambridge, Massachusetts.
MIT Sloan offers bachelor's, master's, and doctoral degree progra ...
in 1982.
Career
On 27 February 2008, Hawkins was put in control of Risk Oversight of Real Estate and Mortgage Exposure for Citibank.
www.citigroup.com
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See also
*1998 Russian financial crisis
The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the Russian rouble, ruble and sovereign default, defau ...
*Long-Term Capital Management
Long-Term Capital Management L.P. (LTCM) was a highly leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York.
LTCM was founded in ...
References
*
*
San Jose State University Economics Department page on LTCM
Year of birth missing (living people)
Living people
American investors
American money managers
MIT Sloan School of Management alumni
Businesspeople from New Rochelle, New York
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