Top IMF economist headed for a hedge fund
The Financial Times today reports on a hedge fund’s move to hire a top International Monetary Fund economist: Hedge fund billionaire Paul Tudor Jones has hired one of the International Monetary Fund’s most senior officials in a move highlighting the attraction of private sector careers for top public sector figures. Lorenzo Giorgianni, the deputy head ...
The Financial Times today reports on a hedge fund's move to hire a top International Monetary Fund economist:
The Financial Times today reports on a hedge fund’s move to hire a top International Monetary Fund economist:
Hedge fund billionaire Paul Tudor Jones has hired one of the International Monetary Fund’s most senior officials in a move highlighting the attraction of private sector careers for top public sector figures.
Lorenzo Giorgianni, the deputy head of the IMF’s policy department, will join Mr Jones’s Tudor Investment Corporation in October, according to people familiar with the matter….
Conny Lotze, a spokeswoman for the IMF, said that as soon as the fund was informed of the job move it took “immediate steps to ensure that [Mr Giorgianni] is no longer involved in any work that could give rise to a conflict of interest before his departure. This is fully in line with the fund’s ethics guidelines”.
The IMF’s code of conduct for staff includes the following general provision:
You should avoid any situation involving a conflict, or the appearance of a conflict, between your personal interests and performance of your official duties. In dealings with member country authorities, suppliers, and other parties, you should act in the best interest of the IMF to the exclusion of any personal advantage. To avoid potential conflicts of interest, the IMF will seek to avoid assigning nationals to work on policy issues relating specifically to IMF relations with their home country, unless needed for linguistic or other reasons…If a potential conflict exists, you should make prompt and full disclosure to your supervisor and seek his or her views as to whether you should recuse yourself from the situation that is creating the conflict or the appearance of conflict.
The code also says this about post-IMF employment:
Staff members who separate from the IMF, or are on leave status, including leave without pay, are expected to observe the respective IMF rules on use or disclosure of confidential information. In particular, staff members who separate from the IMF should not use or disclose confidential information known to them by reason of their service with the IMF and should not contact former colleagues to obtain confidential information. IMF employees are prohibited from providing confidential information to former colleagues, who should be treated like any other outside party.
David Bosco is a professor at Indiana University’s Hamilton Lugar School of Global and International Studies. He is the author of The Poseidon Project: The Struggle to Govern the World’s Oceans. Twitter: @multilateralist
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