Citigroup recently named a new Board Member on Wednesday, December 11th— none other than Duncan Hennes (long-time co-owner of the J/105 KINCSEM and now the J/44 KINCSEM co-owner with friend Joerg Esdorn). Duncan has been a long-time financial executive. In 2006, Mr. Hennes co-founded Atrevida Partners, an investment advisory firm based in Rye, NY, that specializes in alternative assets. He will serve on the risk management and finance committees of the Boards of both Citigroup and Citibank.
A former treasurer of Bankers Trust, Hennes, 56, also served as chief executive of George Soros’s hedge fund company, Soros Fund Management, from 1999 until 2001. After that, he, along with Eugene Ludwig, helped found the Promontory Financial Group, the bank consulting firm. He continues to serve on Promontory’s Advisory Board.
While at Bankers Trust, Duncan represented the bank in the consortium that rescued and took over Long-Term Capital Management in 1998, when the hedge fund nearly collapsed. He was elected Chairman of the consortium’s board.
Hennes is a CPA (certified public accountant) and has an MBA from the Wharton School- University of Pennsylvania.
“Mr. Hennes has broad experience in financial services with notable expertise in securities markets and risk management,” said Citigroup’s Chairman, Mike O’Neill. “We look forward to the insight he will bring to the board.”