Wednesday, July 18, 2012

Third Avenue Hires David Resnick

So, according to this report from Morningstar, David Resnick will be joining Morningstar in September 2012.

Who is David Resnick?

Resnick "made his name as an advisor on bankruptcies and restructurings for many years and who in fact had worked with fund-family founder Marty Whitman on Public Service of New Hampshire's restructuring in the late 1980s."

What does his hire mean for fundholders?

Again according to the report, "In the tight-knit network of bankruptcies and reorganizations, Resnick's rolodex and expertise...should come in handy for many years to come. Overall, it's a positive development for a firm that has succeeded with distressed investing in the past."

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