Hedge Fund Pay War Erupts at Sculptor as Board Member Quits
- Rutman calls Levin’s pay award ‘staggering’ in filing
- Sculptor said Rutman’s letter is inaccurate and misleading
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Jimmy Levin’s rise to the top of Sculptor Capital Management Inc. was accompanied by eye-popping pay packages. For one director, the sums became too much.
J. Morgan Rutman quit the hedge fund firm’s board this week, decrying governance failures at Dan Och’s former company -- which include what he said could be an annual payout of almost $200 million to Levin. He also claimed that he was frozen out of the compensation process, suggesting it was because he opposed Levin’s package.