Ackman appoints Ryan Israel as chief investment officer of Pershing Square

Pershing Square Capital CEO Bill Ackman speaks during the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake

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Aug 19 (Reuters) – Billionaire investor William Ackman on Friday appointed insider Ryan Israel as chief investment officer of his hedge fund Pershing Square Holdings Ltd.

Israel joined Pershing from Goldman Sachs in 2009.

Ackman also said he would continue as Pershing’s chief executive and portfolio manager with continued control over “ultimate decision-making.” (https://bit.ly/3AxQlcn)

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

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

Pershing Square, which liquidated a $1.1 billion bet on Netflix (NFLX.O) in April, also said it also sold its position in Domino’s (DPZ.N) entirely on August 16 this year. . Read more

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Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber

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