Ackman names Ryan Israel as Pershing Square’s investment chief

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FILE PHOTO: Ackman, CEO of Pershing Square Capital, speaks at the WSJ Digital Conference in Laguna Beach

(Reuters) – Billionaire investor William Ackman on Friday named insider Ryan Israel as the chief investment officer for his hedge fund Pershing Square Holdings Ltd.

Israel joined Pershing from Goldman Sachs in 2009.

Ackman also said that he will continue as chief executive officer and portfolio manager for Pershing with continued control over “ultimate decision making”. (https://bit.ly/3AxQlcn)

“If the pie truck were to run me over tomorrow, Ryan would be my choice to manage the portfolio,” added Ackman.

Earlier in March, Ackman, who spent years building his reputation as a vocal corporate agitator, said he plans to work mainly behind the scenes with management and adopt what he calls a “quieter approach” to force change.

Pershing Square, which liquidated a $1.1 billion bet on Netflix in April, also said that it has also fully sold its position in Domino’s as of Aug. 16 this year.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber)

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