J.C. Flowers Is Said to Hire Mead Park’s David MoffittDevin Banerjee
J.C. Flowers & Co., Christopher Flowers’s private-equity firm, hired David Moffitt from Mead Park Management LLC as a managing director, according to two people familiar with the matter.
Moffitt, 52, started at New York-based J.C. Flowers this week and will focus on investments in financial institutions that deal in asset-backed securities, said the people, who asked not to be identified because the information is private. Moffitt was a partner at hedge-fund firm Mead Park, which he helped start in 2012 with former Credit Suisse Group AG colleagues Jack DiMaio and Chris Ricciardi.
Owen Blicksilver, a spokesman for J.C. Flowers at Blicksilver Public Relations, declined to comment. DiMaio wasn’t immediately available to comment.
The move follows J.C. Flowers’s hire in April of Eric Rahe, who joined as a managing director from buyout firm Clayton Dubilier & Rice LLC, where he started its financial services group. In January, J.C. Flowers lost managing director David Schamis after 14 years when he was hired by former Barclays Plc Chief Executive Officer Bob Diamond at Atlas Merchant Capital LLC, an investment firm focusing on taking control positions in African financial-services companies.
J.C. Flowers has invested more than $14 billion since its founding in 1998, according to an April statement announcing Rahe’s hire. Flowers started the firm after helping form Goldman Sachs Group Inc.’s financial institutions group in 1986 and then helping run it in the 1990s.