Angelakis poaches two top execs for Comcast's new investment firm

Former Comcast (NASDAQ: CMCSA) CFO Michael Angelakis has poached two top executives for his new strategic investment company.

Reuters reported that former Sunoco LP CFO Clare McGrory and David Caplan, a partner with law firm Davis Polk & Wardwell, will join Angelakis' venture, which ramps up in January. Comcast later confirmed the hires to FierceCable

Comcast announced in March that Angelakis would step down to run the new company, which will back -- strategically, of course -- growth-oriented companies spending on technology, telecommunications and media. Comcast has poured $4 billion into Angelakis' new venture, and has an exclusive agreement to be the exclusive outside investor for the next 10 years. Angelakis has also put up $40 million from his own bank account, and members of Comcast's executive management team have contributed an additional $100 million. . 

Despite all this money, Angelakis' venture still doesn't have a name. 

According to Reuters, McGrory will join the firm as partner and CFO. She spent 13 years at petroleum company Sunoco, holding a variety of positions in finance and investor relations.

Caplan, meanwhile, is an attorney who focused on mergers and acquisitions at Davis Polk. He will become a partner and general counsel in Angelakis' new company. 

Two weeks ago, Comcast announced that Alexander Evans, formerly corporate development and strategy chief for the MSO, was leaving to join Angelakis as a partner. The two had previously worked together at private equity firm Providence Equity.

Comcast, in turn, filled Evans' role by poaching investment banker Robert Eatroff from Morgan Stanley. 

For more:
- read this Reuters story

Related articles:
Comcast hires Morgan Stanley investment banker Eatroff as strategy chief
Comcast ups Soto to new chief information security officer role
Comcast replaces Angelakis as CFO with Carlyle Group's Cavanagh
Comcast to invest $4B in new strategic spinoff, CFO Angelakis to run it

Suggested Articles

Comcast last Friday moved Turner Classic Movies to its Sports Entertainment add-on package, a move that angered several subscribers.

With the streaming wars intensifying, the “aggregation wars” are poised for greater activity as well: everyone wants a piece of this pie.

Apple TV+ could close in on Netflix-like subscriber totals in just a few years following its launch.