|Richard Grubman’s decision to retire from his post at Highfields Capital Management last month coincided with another high-profile departure in the hedge fund world as Robert Rubin simultaneously stepped down as advisor to hedge funds Taconic Capital Advisors and Farallon Capital Management. According to Bloomberg, Mr. Rubin, formerly the United States Treasury Secretary and advisor to Citigroup during the subprime mortgage crisis, will join Centerview Partners, a boutique Wall Street advisory firm.|
Since its founding by Richard Grubman and Jon Jacobson in 1998, Highfields Capital Management has boasted a 12% average annual return. Mr. Grubman is well-known for his confrontation with Enron CEO Jeffrey Skilling before the company’s collapse. Mr. Jacobson, co-founder of Highfields Capital, will continue at the firm.