Frontpoint’s Skowron on leave from charity’s board

By Emily Chasan

NEW YORK, Nov 5 (BestGrowthStock) – Joseph “Chip” Skowron, the
hedge fund manager at the center of the FrontPoint insider
trading case, is taking a leave of absence from the board of
directors of medical aid charity AmeriCares.

Skowron, who had joined the board of the nonprofit in 2008,
asked that he take a leave from the board pending the outcome
of the investigation, said Peggy Atherlay, a spokeswoman for
AmeriCares.

His leave is effective immediately.

Skowron, 41, a doctor and a prominent healthcare
stockpicker, has not been charged in the case.

French doctor Yves Benhamou was arrested in Boston earlier
this week on charges of leaking secret information to
FrontPoint’s healthcare funds, which investigators said then
traded on that information.

A FrontPoint spokesman said Tuesday that Skowron, who had
joined the firm to run its healthcare funds in 2003, has been
put on leave and that the fund was cooperating with
investigators. [ID:nN02222004]

Skowron worked on the finance and development committees
for the charity, but AmeriCares never has been an investor in
FrontPoint’s funds, Atherlay said.

AmeriCares provides international disaster relief,
humanitarian aid and emergency medical support around the
globe. Skowron, who received an MD and PhD from Yale Medical
School before moving into hedge funds, was introduced to the
charity by his father-in-law, and worked on an AmeriCares
medical team in Kosovo in 2001.
(Editing by Steve Orlofsky)

Frontpoint’s Skowron on leave from charity’s board