Main Street Advisors founder is a top showbiz investment maven
Paul Wachter, investment adviser to the entertainment elite, has been elected to the Time Warner board of directors, the company announced Thursday.Wachter is founder and CEO of Main Street Advisors. “Paul brings a unique combination of abilities to the table, including his perspective as an investment adviser, background in investment banking and law and experience in the entertainment industry,” said Time Warner CEO Jeff Bewkes. The Time Warner board now has 13 directors, 12 of whom are independent. Time Warner likes to maintain a board of between 10 and 14 members. Other directors are Bewkes, Robert Clark, Frank Caufield, Jim Barksdale, William Barr, Steve Bollenbach, Mathias Doepfner, Jessica Einhorn, Fred Hassan, Michael Miles, Ken Novack and Deborah Wright. The last director to resign was Herb Allison, who stepped down last year. Prior to founding Main Street, Wachter headed the West Coast investment banking group for Schroder & Co. He also worked in investment banking for Kidder Peabody and Bear Stearns.