ETF News

FACTBOX-Facts about FrontPoint's Chip Skowron

Nov 2 - Hedge fund firm FrontPoint Partners LLC put portfolio manager Dr Chip Skowron on leave on Tuesday as an investigation into insider trading continues. The Greenwich, Connecticut-based hedge fund allegedly received illegal tips into negative news about Human Genome Sciences Inc HGSI.O, according to a criminal complaint and sources close to the matter. U.S. authorities said the information saved the fund firm $30 million in losses. FrontPoint said it is cooperating with the investigation.

Here are five facts about Skowron.

Skowron joined FrontPoint in 2003 when the hedge fund firm’s co-founder Philip Duff hired him, Dr. Jason Bonadio and Ajay Bhalla, from SAC to help build the hedge fund firm’s healthcare fund.

Skowron earned his medical degree and a doctorate in cellular and molecular biology from Yale after having earned his undergraduate degree from Vanderbilt.

Skowron completed his residency at one of Harvard’s main teaching hospitals, Beth Israel Deaconess Medical Center.

Skowron then left patient-based medicine for business when he worked as a healthcare analyst at Millennium Partners and SAC Capital Management.

Skowron has participated in AmeriCares disaster relief around the world, including in India, Cuba, Kosovo, and New Orleans, Louisiana. (Reporting by Svea Herbst-Bayliss and Emily Chasan)