Florida Business Newsmakers in 2011

Florida Trend Staff | 12/28/2011

BRUCE BERKOWITZ
Investor, Coral Gables

Shaking up St. Joe

[Photo: AP]

Fairholme Capital Management chief Bruce Berkowitz got his way in 2011 with Watersound-based developer St. Joe Co., one of Florida's largest landowners. Berkowitz, St. Joe's largest shareholder through Fairholme, rained criticism on President and CEO Britt Greene and the company's board, leading to Greene's departure. Berkowitz became chairman and got to put his own people on the board, including former Gov. Charlie Crist. That was the highlight for Berkowitz, a transplant to Coral Gables from New Jersey who otherwise had a bad year. The Morningstar Manager of the Decade in 2010 saw his fund fall 27% thanks to big bets on financial stocks. Charles Fernandez, Fairholme president and co-manager, described in several profiles as Berkowitz's right-hand man, resigned for "personal reasons." Berkowitz's office declined an interview.

— Mike Vogel