In Senate hearing: imported generic drugs facing consistent drug shortages need a government incentive program to help labs make life-saving commodity drugs domestically.
CPA VICE CHAIRMAN & FORMER CHAIRMAN OF AMERICAN STRATEGIC INSURANCE GROUP
Marc Fasteau is the founder and has served as chairman of the the American Strategic Insurance Group, a property & casualty insurer with approximately $1.1 billion in premium operating in 26 states. The holding company for the Group, Arx Holding Corp, and its shareholders, have entered into a definitive agreement, expected to close in April 2015, to sell a majority interest in Arx to Progressive Corporation (PGR:NYSE).
Marc is a partner and investor in Sereno Properties, LLC, a developer and manager of small, high design luxury hotels. Fulcrum owns and operates Le Sereno hotel in St Barths and is building a new hotel on Lake Como, Italy in the town of Torno.
Marc was an investment banker in New York for 14 years, and served as a Managing Director and partner at Dillon Read & Co.
From 1979-81, Marc served as Staff Director and Counsel to the Rockefeller Foundation funded Study Commission on US Policy Toward South Africa. The Commission produced “South Africa:Time Running Out”, a book length report with policy recommendations for the federal government, US corporations and US non-profit.
From 1963-66, he served on the professional staffs of the US House of Representatives Banking & Currency Committee (now the Committee on Financial Services), US Senate Majority Leader Mike Mansfield and the Joint Economic Committee.
Marc is a graduate of Harvard College (1963) and Harvard Law School (magna cum laude 1969) where he was an editor of the Law Review.
He is married to Anne Gerard Fredericks, an artist, art historian and former Wall Street professional specializing in the Japanese and other non-US equity markets.
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