WEST PALM BEACH, FL (www.hedgeco.net) – A senior analyst at prudential Securities has defected to Hedge Fund Management arena according to news reports. This trend is in keeping with strategies usedby traditional asset managers who continued to move over to hedge fund management, being in part attracted by the compensation offered by the growing global hedge fund industry. Although the trendhas slowed down in recent months, some traditional asset managers and analysts continue to cross over to hedge fund arena.
According to published reports, Prudential Securities has temporarily suspended its coverage of the beverage industry following the departure of analyst Jeffrey Kanter, who covered the beverage industry including companies such as Coca-Cola Co., Anheuser-Busch Cos, and PepsiCo Inc. Kanter is planning to join a New York based Hedge fund Manager, Vardon Capital Management.
In a released statement, Jim Gordon, a spokesman at Prudential Securities stated, “We remain highly committed to the beverage sector, and will resume coverage as soon as we responsibly can.� Mr. Kanter began his career at Prudential in 1981; he previously worked at Salomon Smith Barney. Kanter was named Institutional Investor�s All-American research Team for his work in covering the consumer beverage industry.
Vardon Capital Management declined to make statements about the story. A spokeswoman for the company said Vardon has a standing policy not to speak with the press.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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