Former Bush adviser helps open investment firm

A former member of the National Economic Council under President Bush has launched a boutique investment advisory firm, according to published reports.
AUG 11, 2009
By  Bloomberg
A former member of the National Economic Council under President Bush has launched a boutique investment advisory firm, according to published reports. Philippa Malmgren, who was a member of the President’s working groups on financial markets and corporate governance, has joined with Nadja Pinnavaia, a former managing director of hedge fund strategies at Goldman Sachs Asset Management of New York, to launch Principals Asset Management LLC of London and New York.The new firm’s website lists Ms. Malmgren as co-founder and president. She could not be reached for comment, but she is also currently listed as a principal of the London-based advisory firm Canonbury Advisors LLC. Ms. Pinnavaia is listed as co-founder and chief executive officer of Principals. Paul O’Donnell is listed on the Principals site as co-founder and chief operating officer. According to the website, Mr. O’Donnell remains chief executive officer of Canonbury Advisors. According to published reports, Principals is one of 20 asset management firms approved for operation over the past few months by the United Kingdom’s Financial Services Authority. The Principals website says the firm will have a thematic investing approach that is designed to identify themes “whose impact had not yet been fully understood nor priced by the broader market.” The firm’s investments will typically be concentrated in one or more of the following themes: policy and credit driven, growing middle class and resource scarcity, environment, intellectual innovation, and education, according to the website.

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.