Knight Vinke Asset Management
Knight Vinke Asset Management is an American privately owned investment management firm that invests in under-performing bluechip companies, then pushes for institutional changes in those companies to increase share value. As of October 2016, the firm manages approximately $1 billion. Operations Knight Vinke reopened a debate about investment banking by publishing an open letter in the Financial Times calling on the Swiss bank UBS to review whether or not it should continue to own its wealth management business under the same roof as its investment bank. Signed by Eric Knight, the letter argued that the excessive risk within the UBS investment banking operations between 2007 and 2009 nearly destroyed the bank and a simplification of the group's structure would help the bank unlock its full value potential. In February 2013, Darty appointed Eric Knight to the board following a profit warning. Knight Vinke, which has a 25% stake in Darty, said it was frustrated at the pace of change, and would exercise its right to join the board with immediate effect. Knight Vinke has been an institutional investor in Eni for over 5 years and since 2009 has been calling for the state-controlled Italian oil and gas group to break