Richard Grubman, famous on Wall Street for having been cursed out by Jeffrey Skilling on an Enron earnings call, and lately infamous for allegedly throwing his car keys in the face of a valet, is retiring from Highfields Capital Management, the firm he co-founded in 1998.
Richard Grubman
He is leaving to spend more time with his wife, who has been diagnosed with breast cancer, according to a source familiar with Grubman’s plans. The source said it has nothing to do with “Keygate,” as the valet incident has been dubbed. A senior managing director of the $10 billion Boston hedge fund, Grubman, 48, is still “involved and available” but will be “transitioning over the next several months,” according to Molly Morse, a spokesperson for the firm. Prior to founding Highfields, Grubman held senior positions at a number of hedge funds.
He began his career in the mortgage and real estate finance departments of First Boston. Highfields chief executive and investment officer Jonathon Jacobson and other senior executives will continue to run the firm, and Grubman is not being replaced.
Grubman was arrested in April for allegedly throwing his BMW keys in the face of a valet outside Blu, an upscale Boston restaurant. He is seeking to settle, according to various media reports, as a conviction on the assault and battery with a dangerous weapon charges could result in up to 10 years in prison.
Grubman was famously cursed out in 2001 by Jeffrey Skilling, then chief executive of Enron, when Grubman questioned the quality of the soon-to-fail energy company’s financial reporting.
Lawrence Delevingne
