Updated and Corrected: Meet David Ganek, The Hedge Fund Manager With Ties To This Morning’s Insider Trading Arrests


CORRECTION: Earlier we inaccurately reported that David had been arrested. He has not. We apologise for the error.

However, his hedge fund, Level Global, was raided in November 2010 by Feds and his co-founder Anthony Chiasson, has turned himself in to the FBI according to the NYT.  

Shortly after the raid, Ganek shut down his hedge fund and returned funds to his investors.

Ganek is an SAC Capital veteran who spent 10 years working for Steve Cohen’s hedge fund. In 2003, Ganek departed Cohen’s SAC Capital to launch Level Global, which he ran with his fellow SAC alum Anthony Chiasson.

According to a Wall Street Journal report, Chiasson was not home when Federal authorities attempted to arrest him.  Chiasson is in negotiations to surrender, the New York Times reported.

While at Level Global, Ganek and fellow co-founder Chiasson had very different management styles.

From the NYTimes DealBook:

Mr. Ganek sat on the floor with his traders, barking orders and reading off headlines from the Bloomberg terminal. Mr. Chiasson, by contrast, was a less intense manager, sitting with his analysts and walking over to speak to employees when he needed something.

Ganek’s previous experience also includes working in risk arbitrage at Donaldson, Lufkin & Jenrette in the early ’90s.  He is also the son of money manager Howard Ganek, a former partner at Neuberger & Berman.  So far, one analyst at Neuberger and Berman has been implicated in the case.

Ganek is a New York native.  He attended Franklin and Marshall College. 

During college, he met his wife Danielle, who is a former editor at Mademoiselle and Woman’s Day. She is now a novelist.  Together they have have three children; two boys and one girl.

The hedge fund manager and his wife are well-known in New York social circles.  They have an extensive art collection with pieces from Richard Prince, Diane Arbus, Jeff Koons, Cindy Sherman, John Currin and Mike Kelley in their collection.  They reside in a swanky Upper East Side apartment that Ganek paid $19 million for and they also own home in Southampton.