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Financial Services Reporter

Hearst Connecticut Media Group is seeking a financial services reporter to blog, break stories, investigate and lead coverage of the high-end financial services industry and community in Fairfield County, Connecticut. Blogging and writing for our online products will constitute about 70 percent of the job.

The beat will include hedge funds, investment banks, private equity, insurance, and financial instruments and commodities trading. A major focus will be on the people involved in the industry and those affected by it.

The successful candidate will be an excellent people person, able to develop sources and establish a constant flow of information from a traditionally closed-mouth community. He or she must have strong familiarity with the industry and a high comfort level in reporting on complex financial and economic matters, interacting with C-level executives and high-net-worth individuals, and translating it all into compelling copy for our newspaper and online readers.

Excellent story-crafting skills are a must, as is experience with online reporting through blogs, Twitter and Facebook, etc., as well as traditional news Web sites. Video skills are a plus.

Requirements include boundless enthusiasm for the beat, a bachelor’s degree, outstanding business clips in his or her portfolio, and the ability to juggle multiple print and online assignments and deadlines.

The position will be based in Greenwich and report to Business Editor Jim Zebora in Stamford. Anyone interested should contact Jim at 203-964-2420 or jim.zebora@scni.com.

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The State Banking Department is handing over the results of its investigation into the securities activities of Westport-based PSCC Services Inc., its founder and owner Robert L. Silverman and Westport National Bank to the state Attorney General.
These investigations were started in relation to the Madoff fraud scheme that resulted in losses of nearly $65 billion to investors. Madoff managed funds that PSCC and Westport National had established.
“Bernie Madoff perpetrated a fraud that has created a landslide of misery for thousands upon thousands of innocent people,” Governor Rell said. “They are left picking up the pieces of shattered dreams and lost hopes. If these allegations are true, I am deeply troubled by the failure of the pension consultant and the bank to conduct minimal due diligence and to make important disclosures to investors.”
Madoff pleaded guilty last year to 11 counts and admitted operating what investigators believe may have been the largest investor fraud ever committed by an individual.
“Our state Banking Department has been looking into allegations that Westport National Bank created one or more investment funds for clients of PSCC Services and utilized Madoff’s company, Bernard L. Madoff Investment Securities, as the funds’ investment manager,” Department of Banking Commissioner Howard Pitkin said. “The probe found information indicating that Silverman and PSCC Services allegedly steered clients toward pooled investments for which Westport National Bank served as the nominal custodian and which were to be managed exclusively by Madoff’s company.