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Friday, August 14, 2015

A Case of Mistaken Fundster Identity: Partying Politicians Edition

News summary by MFWire's editors

A Beantown fundster is getting local news attention for a party that he didn't throw. It's a classic case of mistaken identity.

Jim O'Sullivan of the Boston Globe initially reported that last weekend FFCM [profile] CEO Bill Carey hosted the non-golf piece of a two-day golf retreat for Charlie Baker and Karyn Polito's (the Governor and Lieutenant Governor of Massachusetts, respectively) "top political fund-raisers." Yet Carey confirms that the party was in fact host by a completely different guy, also named Bill Carey.

A Fidelity veteran, Carey held top jobs at BofA, OpFunds, and F-Squared before FFCM. FFCM offers the QuantShares ETFs.

It appears that hosting a party for the governor is a great way to way to get your house written about in the newspaper while someone else gets the credit. The Globe describes the home in Cape Cod's Osterville as worth $6 million and featuring a veranda with a backyard "sunken garden." (The Globe adds that then-Republican presidential candidate Mitt Romeny held a fund-raiser at the same house in 2012.)

The paper even found a copy of the itinerary for the "summer retreat." That itinerary included: golf at the Willowbend Country Club in Mashpee (though Governor Baker "doesn't play," according to one of his advisors); a wine tasting; a champagne toast by Massachusetts First Lady Lauren Baker; a presentation by a wine specialist; a "relaxed clambake"; a breakfast buffet; briefings from the politicians' staffers; and time to mingle.

The Globe subsequently updated the article, describing the other Bill Carey who hosted the part as "a retired investor and longtime Baker supporter." 

Correction: A prior version of this story relied on a Boston Globe article that identified the wrong Bill Carey as the host of the party in question.

Edited by: Neil Anderson, Managing Editor


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