TWG Global, the diversified investment firm chaired by billionaire Mark Walter, has bolstered its executive leadership with the appointment of David Markowitz as its new chief legal officer. This strategic move comes as the company is handling a federal investigation into its business practices.
Markowitz, who will advise TWG’s leadership team on strategic priorities and long-term growth, joins from Goldman Sachs, where he spent over 15 years honing his legal acumen in various roles. Most recently, he served as the global co-head of litigation and regulatory proceedings, a position that equipped him with a deep understanding of complex legal issues and a proven track record of handling high-stakes regulatory environments. His appointment at TWG marks a significant addition to the company’s leadership team.
Investigation Amidst Appointment
The federal investigation into TWG’s business practices is focused on how two insurance companies under Walter’s empire have classified loans made to other firms he owns. This probe is a sign to the complex and wide-ranging nature of Walter’s business interests, which extend across financial services, insurance, AI, tech, sports, and media. TWG’s investments include significant stakes in the Los Angeles Dodgers baseball team, Chelsea FC soccer club, and the Cadillac F1 racing team.
Earlier this month, Walter agreed to sell his controlling stake in the Los Angeles Lakers to Joshua Kushner and Bob Iger, in a deal valued at $12.5 billion. This transaction highlights the scale and significance of Walter’s investments and his ability to execute on strategic priorities.
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Markowitz’s Background and Role
Markowitz’s appointment is set to strengthen TWG’s legal framework and support its continued growth. His extensive experience at Goldman Sachs includes negotiating multi-billion-dollar settlements on behalf of the bank and its Malaysian subsidiary in the 1MDB corruption scandal. Prior to his tenure at Goldman Sachs, Markowitz held prominent roles at the New York State Office of the Attorney General and the SEC, further bolstering his credentials and expertise.
“I have long admired TWG Global’s unique position across some of the world’s most cutting-edge industries,” Markowitz said. “I look forward to working collaboratively with the leadership team, leveraging my legal experience to support TWG’s growth and help shape its long-term strategic priorities.”
In other recent financial services moves, earlier this month insurance and reinsurance company Vantage Group hired Lucy Fato as general counsel from Seaport Entertainment Group, replacing CLO Bobbi Anderson.