Every Tuesday night John Myers, CEO of GE Asset Management, rents out the gym at SUNY Purchase College’s suburban New York campus for a pickup basketball game. Over the years he has played hoops with an eclectic bunch: Phil McConkey, the former New York Giants wide receiver who’s now head of equity sales for block trading firm GGET; William Shanahan, the longtime Colgate-Palmolive president; and Arthur Samberg, head of hedge fund Pequot Capital Management, to name a few of his court pals.
GE Whiz
John Myers relies on hedge funds to turbocharge GE’s pension plan. That may help explain why it is $5 billion overfunded.
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