Is Utendahl Capital Management, the financial services firm of Tyra Banks‘ boyfriend John Utendahl, feeling the strain of tough economic times?
A source with close knowledge of the company told Page Six that UCM — which is part of Utendahl Group, the largest African-American-run investment banking firm in the US — has undergone a round of layoffs.
“It’s very tense around the office,” our source says. “No one knows what’s going on, other than that they’re firing people.”
Utendahl’s business is divided between UCM, a money management shop, and Utendahl Capital Partners, an investment bank. According to its Web site, UCM has about $1.5 billion under management. Its chief operating officer is Gregory Parsons, the son of Citigroup chairman Richard Parsons. UCM managing director Tom Mandel told Page Six that the report of layoffs and firings amounts to “malicious claims made by a former disgruntled employee. John Utendahl has been one of the most respected African-Americans on Wall Street for almost 30 years. The firm has no further comment on this matter.”
As for 52-year-old Utendahl, whose relationship with Banks has sparked marriage rumors, another source said that he and the former model are planning on starting a family. “A big reason why she left ‘The Tyra Show’ was because she wants to be a mom,” our source said. “They’ve been house-hunting for a place with a nursery in downtown Manhattan and in Brooklyn.” Banks’ rep had no comment.
