William Browder is nothing if not a survivor. An early investor in Russia, he held on through the country's 1998 default, then built his Hermitage Capital Management into one of Russia's biggest investment firms -and a leading activist against corporate malfeasance and fraud. For his efforts, the authorities peremptorily barred him from returning to Moscow in November 2005 and labeled him a national security threat. Browder hasn't let the setback dampen his spirits. The U.S.-born, naturalized U.K. citizen has refashioned $3 billion-in-assets Hermitage as an emerging-markets fund manager with a special focus on the oil-fueled economies of the Gulf region.
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