After Blowup Comes Happy Ending
Stanford's Demise is Concept Capital's Good Fortune
Traders Magazine, June 2009
In early March, the picture didn't look promising for Rich Parker and his veteran equity sales and trading team. Only weeks earlier, they had experienced the shock of their lives when regulators shuttered their firm, the Stanford Group Co., and put it into receivership. Parker's group of nearly 40 pros found themselves out of work after financial irregularities, estimated in the billions, were uncovered in a separate part of the firm-far from the Stanford equity trading desk. The scope of the event generated headlines around the globe and came only months after the news of Bernard L. Madoff's fraud.
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