Donald Sussman

Selwyn Donald Sussman (born 1946) is an American investor, hedge fund manager, and philanthropist who founded Paloma Partners in 1981 and serves as its chairman and chief investment officer. A New York University alumnus with degrees in business and an MBA, Sussman launched the firm during the advent of computerized trading, initially operating with minimal resources and leveraging early quantitative strategies to build a prominent hedge fund managing billions in assets. Through the Sussman Family Foundation, he has directed over $100 million in grants toward education, arts, Jewish causes, and environmental initiatives, reflecting a commitment to targeted giving over broad institutional support. Sussman has emerged as a major political financier, personally donating tens of millions since the 1990s predominantly to Democratic candidates and committees, with his firm's employees contributing over $100 million in a similar partisan pattern. Notable aspects of his career include a 1997 settlement with regulators for breaching fiduciary duties under the Investment Advisers Act and litigation over seed investments in emerging funds, highlighting risks in hedge fund structuring and disclosures.