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Thursday, November 10, 2016

Altegris' Chief Passes Away

Reported by Katy Golvala

Jack L. Rivkin, CEO of Altegris, passed away in New York City on Tuesday following a battle with cancer. He was 76 years old.

Jack Rivkin
Chief Executive Officer
Effective immediately, Marty Beaulieau will serve as CEO, in addition to his role as executive chairman.

Rivkin joined San Diego-based Altegris in 2013 as chief investment officer, and has served as the company's CEO and chief investment strategist since February of this year.

Dick Pfister, CEO and president at AlphaCore Capital, tells MFWire that Jack will be remembered as "a legend in the industry." Rivkin led a full-blown transformation of the global equity research department at Shearson Lehman, taking a firm that was lowly ranked from a research perspective, and turning it into the most highly regarded research department on Wall Street. His work inspired an HBS case study, "Lehman Brothers (A): Rise of the Equity Research Department."

Those who worked closely with Rivkin will also remember his boundless energy. Rivkin was 70 years old when he joined Altegris as CIO, and Pfister recalls, "You couldn't tell he was a day over 35."

In a statement, Matt Osborne, co-founder and chief investment officer at Altegris, remembers Rivkin as a "trusted leader, respected spokesman and loyal friend." Steven Spiegel, co-founder, partner and principal at private equity firm Aquiline Capital Management (one of Altegris' current owners), states that Rivkin "leaves an admirable legacy, as his skilled management, research and academic experience have left a lasting mark on our industry."

After graduating from Harvard Business School, Rivkin began his 50 year investment career at Mitchell Hutchins, and held positions across several firms, including Citi, Neuberger Bergman, and PaineWebber, the acquirer of Mitchell Hutchins. Before business school, he was an officer in the Chemical Corps of the US Army, working on chemical, biological and radiological weapons testing.

Rivkin was a passionate fly fishermen and an avid reader, who liked to stay on the cutting edge of venture deals, particularly within the neuroscience and tech sectors. He was a supporter of tech entrepreneurship, serving on the board of directors of Idealab, a San Diego-based tech incubator.

Memorial services are being held at the Angler's Club of New York at 101 Broad Street in New York City on Thursday, November 17 from 4-7 pm. In lieu of flowers, please send donations to the Leadership Enterprise for a Diverse America and The New York Stem Cell Foundation. Those looking to remember Mr. Rivkin are also encouraged to send thoughts, memories and condolences to rememberingjack@altegris.com. 

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