John P. Havens, who resigned as chief operating officer of Citigroup in 2012 when Vikram S. Pandit was ousted as chief executive, has found a new home.
Napier Park Global Capital, the hedge fund business that was spun out of Citigroup, announced on Tuesday that Mr. Havens, 57, had joined the firm as partner and non-executive chairman.
“John is a seasoned, well-recognized leader in the financial services industry who has always stood for integrity and creating the best solutions to meet the needs of his clients,†Jim O’Brien, co-managing partner of Napier Park, said in a statement. â€Our team will benefit greatly from the full range of his management talent and experience.â€
Napier Park has its roots as Old Lane, which Mr. Pandit founded in 2006, along with several former Morgan Stanley colleagues, including Mr. Havens. The following year Citigroup bought the fund for $800 million.
The hedge fund was spun off to its executives last year and renamed Napier Park â€" after the Scottish mathematician who devised logarithms, and the firm’s offices on Park Avenue. Napier Park, which also has offices in London and Dubai, manages about $6 billion in assets.
Mr. O’Brien and the firm’s other senior managing partner, Jonathan Dorfman were, like Mr. Havens, veterans of Morgan Stanley before joining Citigroup.
“Having seen what Jim, Jon and their team have been able to build, in addition to my familiarity with their management style as a result of our years together at Citigroup, made joining Napier Park an easy decision,†Mr. Havens said.
