Former Citigroup president and chief operating officer John Havens has been named the chairman of hedge fund firm Napier Park Global Capital.
The Wall Street Journal reported that Havens, who is coming out of retirement in take on his new role, will work three days a week from the firm’s New York City headquarters.
Havens resigned from Citigroup, along with CEO Vikram Pandit in 2012, after the pair reportedly clashed with the board of directors over strategy and performance.
Napier Park was spun out of Citigroup’s hedge fund unit, Citi Capital Advisors, last year in an effort to comply with the he Volcker Rule. The Volcker Rule aims to protect the financial system by restricting hedge fund investments by U.S. banks.
Napier Park manages approximately $5.6 billion in assets.