This just in from the Harvard Crimson (via Andrew Ross Sorkin‘s NY Times blog):
Former Harvard President Lawrence H. Summers will join a New York-based global investment group as a part-time managing director.
The D. E. Shaw Group announced today that Summers “will be involved on a part-time basis in various strategic initiatives and high-level portfolio management activities.”
Summers, on year-long sabbatical from the Harvard Business School and Kennedy School of Government, told the Crimson that “this is entirely within the context of the normal outside activities of a Harvard professor.”
But how many profs have a little sideline at “one of the nation’s largest hedge funds”? Sorkin reports that “D.E. Shaw, based in New York, had $20 billion in assets under management at the end of last year.”
CultureGrrl trusts that one of Summers’ “strategic initiatives” will be analyzing startups by female scientists.
(Okay, I know: This has nothing to do with culture. But CultureGrrl’s daughter is a female scientist!)