SkyBridge Capital founder Anthony Scaramucci scores White House role

Mr. Scaramucci will have a general advisory role under President-elect Donald Trump, according to people familiar with the matter.
JAN 12, 2017
By  Bloomberg
Anthony Scaramucci, founder of SkyBridge Capital, has been named an assistant to President-elect Donald Trump, according to people familiar with the decision. Mr. Scaramucci will have a general advisory role in the White House, said the people who asked not to be identified without authorization to speak publicly. He's been a member of Mr. Trump's transition team, making public appearances on television in support of his policies. "It's not about me, and it's not about any of these people on the team," Mr. Scaramucci said in an interview at Trump Tower earlier Thursday. "It's about president-elect Trump and the American people." Mr. Scaramucci has been seeking to sell his New York-based fund of hedge funds firm to help pave the way for a government role. The firm, which managed $9.2 billion as of last January, aims to fetch $200 million to $250 million, people familiar with the business have said. Mr. Scaramucci joins several former executives from Goldman Sachs Group Inc. on Trump's team. Steven Mnuchin, who was a partner at the firm, was chosen as Treasury secretary and Goldman Sachs President Gary Cohn was named to the top White House economic post. Alumnus Stephen Bannon will be Trump's chief strategist. Mr. Scaramucci, who's known as "the Mooch," founded SkyBridge in 2005. He also started a high-profile annual conference for the hedge fund industry in Las Vegas. He graduated from Harvard Law School and landed a job in the real-estate investment-banking unit at Goldman Sachs in 1989.

Latest News

Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones
Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones

With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.

Insured Retirement Institute urges Labor Department to retain annuity safe harbor
Insured Retirement Institute urges Labor Department to retain annuity safe harbor

A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.

LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors
LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors

"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.

Mercer Advisors expands in Florida with $1.2B AUM next-gen team
Mercer Advisors expands in Florida with $1.2B AUM next-gen team

It's the mega-RIA firm's third $1B+ acquisition in just three months.

WisdomTree to acquire $1.85B AUM specialist asset manager
WisdomTree to acquire $1.85B AUM specialist asset manager

The deal marks a strategic entry into private asst markets for the ETP, ETF innovator.

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.