Former Sovereign Bancorp Inc. chairman Jay S. Sidhu has formed an investment advisory firm and private-equity fund.
Mr. Sidhu resigned as chairman of Sovereign, a Philadelphia thrift company, at yearend, three months after being ousted as chief executive in a boardroom struggle.
On Tuesday, he represented Sidhu Advisors LLC, of which he is CEO, and the private-equity fund Sidhu Capital Partners, of which he is chairman, at the Piper Jaffray Financial Services Private Equity Conference in New York. The conference examined private-equity investment opportunities in U.S. banking.
Both companies are headquartered in Palm Coast, Fla.
In a press release Sidhu Advisors said Mr. Sidhu was to address how private-equity investors can earn attractive returns in the banking business and why so few private-equity investors have invested in financial services.
Sidhu Advisors said it is one of the few private-equity fund managers focused exclusively on investment in the financial services sector.
