Och-Ziff
 |
|
| Public company | |
| Traded as | : OZM |
| Industry | Hedge funds |
| Founded | 1994 |
| Founder | Daniel Och |
| Headquarters |
Solow Building New York City, New York, United States |
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Key people
|
Daniel Och, Chief Executive Officer David Windreich, Head of U.S. and European Investing Joel M. Frank, Chief Financial Officer and Senior Chief Operating Officer |
| Total assets | $13 Billion as of February, 2017 |
|
Number of employees
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200+ |
| Website | www.ozm.com |
Och-Ziff Capital Management Group (OZ Management) is an American hedge fund manager and global alternative asset management firm. The firm operates multiple investment strategies, including merger arbitrage, convertible arbitrage, equity restructuring, credit and distressed investments, private investments, and real estate. It has 400 employees worldwide including offices in New York City, London, Hong Kong, Mumbai, and Beijing.
As of July 1, 2017, the firm has $31.8 billion in assets under management.
Och-Ziff Capital Management Group was under investigation since 2011 in regard to the Foreign Corruption Practice Act (FCPA) for bribery and corruption in African countries over the period of 2008-2012. On Thursday, September 29, 2016, following plea discussions, the company agreed to pay the Department of Justice and the U.S. Securities and Exchange Commission a total of $412 Million for criminal and civil violations.
The terms of the SEC agreement meant that the company pled guilty to the charges of violating the Foreign Corrupt Practices Act and bribing senior government officials in several countries in Africa.
SEC found CEO Dan Och responsible for Och Ziff's corruption and bribery violations. According to their investigation, he and other company executives, including CFO Joel M. Frank, were aware of potential corruption and ignored the risks, thus violating the anti bribery books and records, and internal controls provisions of the Securities Exchange Act of 1934. Following the corruption charges and ensuing settlement, Och Ziff clients withdrew up to $13 billion from the company.
On March 14, 2017 Bloomberg reported that several key executives had left the company including James Keith Brown, partner and head of investor relations, Paula Drake, chief compliance officer, and Drew Gillanders a top European equity analyst.
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