Ackman, Icahn and Ancic take part in Finance Cup

The Fifth Annual Finance Cup was held on Saturday in East Hampton, NY, and a familiar face made the short journey from Manhattan to represent Team USA against Team Europe.

Team USA’s line up included former world No. 7 Mario Ancic (now at One Equity Partners) and former world No. 1 doubles player Richey Reneberg (now a partner at Taconic Capital Advisors). The 28-player Team USA roster also included former Top 150 players Michael Yani, Kevin Kim, Graydon Oliver, Albert Chang, Mark Kaplan, Jonathan Canter and Byron Talbot.

Ancic notably beat Roger Federer at Wimbledon in 2002, where he also reached the semifinals in 2004. He was forced to retire due to injuries and went back to school to get his college degree. The 35-year-old then earned his law degree from Columbia University. After graduation, he joined Credit Suisse as an investment banker and is now an associate at One Equity Partners.

Team USA's Richey Reneberg (left) and Albert Chang (right) shake hands with Team Europe's Hendrik Jan Davids (left) and Stephen Noteboom (right).

Each year, former professional and top college tennis players who work full-time in finance in the U.S. and Europe face off at the Finance Cup. It’s a great opportunity for young aspiring financiers to network with well-known finance titans like Christer Gardell, Bill Ackman, Robert Pohly, John Doran and Walter Dolhare.

“This year Carl Icahn was courtside for the matches and had the audience in stitches with his speech and trophy presentation,” said Jeffrey Appel, captain for Team USA.

Carl Icahn, pictured with Jeffrey Appel (right), served as the master of ceremonies.

“Carl has played tennis his whole life and he and his wife, Gail, still play weekly and are omnipresent at the US Open," Appel said. "Carl had a special interest in watching his ‘Golden Boy’ Christer Gardell play. Carl seeded Christer when he started Cevian Capital in 1996, and retains an ownership stake in the management company. Icahn told me last year his significant investment seeding Christer may have been his best investment ever as Gardell is now considered Europe’s biggest and most feared activist investor.”

Icahn has a very public and complicated relationship with the Team USA’s Ackman. The two butted heads in a battle over Herbalife. Unfortunately for Ackman on Saturday, the high heat and humidity got the best of him and he had to retire while down, 6-1, 2-2. Appel and Howard Sands beat Gardell and Jan Olssen, 6-3, 6-3.

Team USA's Jeffrey Appel and Howard Sands get interviewed by Andy Adler.

Team USA would win 10-4 and leads the Finance Cup series 4-1. Everyone is already eager for a rematch.

“Both teams are already looking forward to 2020 in Barcelona where the Europeans are hoping for the home surface advantage on the Red Clay,” Appel said. “While the tennis is important the camaraderie and relationships are very important as well.”

Team USA (blue  and Team Europe (white) faced off  for the fifth time.

The participants represent such companies as Bank of America, Wells Fargo, State Street Corp, Pershing Square, JP Morgan, Merrill Lynch, Samlyn Capital, Citigroup, BNP Paribas, Soros Management, European Central Bank, SocGen, Deutsche Bank and Cevian Capital.

Team USA’s Byron Talbot was recognized as the MVP after he won his match in the 55+ division and then filled in for an injured Robert Givone in the 45+ division to win his second match of the day. Richey Reneberg won the Sportsmanship Award and Ancic received the Career Achievement Award.

Left to right: Richey Reneberg, Mario Ancic, Byron Talbot, Jeffrey Appel, Carl Icahn and Bill Ackman.

Matches were followed by a cocktail reception and tented dinner at Ackman’s home. Icahn started the night off by complimenting Ackman’s on-court skills, to which Ackman said that when he felt like he was about to pass out on court, he glanced up and thought he was hallucinating when he saw Icahn looking down at him. Icahn then jokingly admitted he gave Ackman a Herbalife drink that may have caused his heat illness.

Appel, who founded the event with Team Europe Captain David Anving is proud of the progression of the event.

“We are all trying to build an event that endures many years,” he said. “Having Icahn as the master of ceremonies at Ackman’s house for the event party and awards ceremony was a special experience. Every single one of us looks up to Carl, and it was a great way to wrap up a great weekend.”