SPAT, WHAT SPAT?
Guggenheim exec denies any C-suite drama
Guggenheim Partners, for months battling media reports of C-suite turmoil, tried once again on Wednesday to tamp down such talk.
Chief Investment Officer Scott Minerd told a TV interviewer that various reports of infighting are “complete mischaracterizations.”
The words spilled from his mouth hours after The Wall Street Journal reported that Chief Executive Mark Walter was weighing giving up the top job.
Walter and Minerd are said to be battling. One issue is Walter’s alleged close relationship with Alexandra Court, a South African beauty who was promoted to global head of institutional distribution in April 2016.
Although Guggenheim has repeatedly said there’s only a business relationship between the two, Court resides in a legendary Pacific Palisades, Calif., mansion purchased by an entity seemingly linked to Walter, The Post has confirmed.
The $13.5 million manse, built in 1938 by Hollywood actress Virginia Bruce, was purchased in August 2016 by a limited liability company that lists Miamibased ABS Capital Co. as a manager.
ABS Capital also was the manager behind the LLC that bought Walter’s $85 million Malibu home from music mogul David Geffen in May, according to public filings.
LA real estate blog Yolanda’s Little Black Book was the first to report on a link between the two homes.
Guggenheim, through a spokesperson, said Walter does not own the Pacific Pali- sades house.
“With regard to the blog item about a Pacific Palisades house, Mark Walter does not own the home in Pacific Palisades that is mentioned in the blog nor did he buy it for Ms. Court,” the spokesperson for Guggenheim told The Post.
To be sure, public records show the Pacific Palisades manse is not owned by Court but by an LLC. Court simply lives there, according to property records.
Court, who has been with Guggenheim since 2010, is on a sabbatical that was expected to end Sept. 1 but was extended 30 days.
A WSJ report said Court is negotiating her Guggenheim departure. She could not be reached for comment before press time.
Court’s 2016 promotion coincided with the restructuring of the distribution team, resulting in the firing of 22 employees and the team having increased controls over client communications — moves Minerd disagreed with, according to reports.
But even with Court seemingly out of the picture, tales of turmoil at Guggenheim persist. On Tuesday, multiple outlets reported Walter was mulling stepping down as CEO. Walter is exploring forming a holding company that would house one of Guggenheim’s insurance units as well as his personal assets, including his ownership stake in the LA Dodgers, reports said.
Minerd, meanwhile, told a CNBC interviewer that there is no bad blood between him and Walter.
“I want to be clear there is no fighting going on between Mark and me,” Minerd said Wednesday.
When asked about Walter’s future as CEO, Minerd was vague.
“Wherever Mark goes or what he does in his role as CEO — whatever it is in the future — I’m highly supportive of it.”