Investment firm founder Harry Arora eyeing Congressional seat in Connecticut

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Harry Arora (Courtesy: harryforct.com)

NEW YORK – Indian American Harry Arora, a Republican from Greenwich, Connecticut, will be running for Congress in this year’s election to challenge Democratic U.S. Rep. Jim Himes.

Arora filed his paperwork to run for Connecticut’s Fourth Congressional District just two days after Christmas.

“My understanding of economics and policy framework will allow me to propose thoughtful policies to reverse the harm being inflicted by current policies. After a successful business career, I want to serve the public cause. I consider that my duty. I have been blessed with the American dream. Now it is my turn to give back and serve,” Arora said in a statement last Friday.

According to a Stamford Advocate report, Arora criticized both Himes and Connecticut Gov. Dannel P. Malloy, saying that their policies have failed Connecticut and on his website he criticized the Affordable Care Act claiming that “he will propose policies to lower health care costs and provide more consumer choice.”

He also said that “recent policy has ‘attacked’ the state financial services and insurance industries instead of attracting entrepreneurs and jobs.”

Throughout 2017, Himes has been in support of President Donald Trump’s policies, including the most recently the tax code overhaul and confirmed this week that he will seek a sixth term in 2018, though he chose not to respond to Arora’s announcement.

“There are so many in Congress who do not even read the bills they pass – let alone understand the impact of those laws. My real world experience allows me to be your representative who has the capacity and ability to do the job,” Arora, 48, says on his website.

“I worked as a portfolio manager and analyst for 20 years studying and investing in macro markets. Through this experience, I gained an understanding of government policy and its impact on economy, employment and living standards. I learned in great detail about our fiscal and monetary policies. I came to understand the impact of immigration, employment trends and industry structure. This experience has given me an appreciation of how incentives are critical for the success of a system,” he adds.

According to the Stamford Advocate, Arora was a former employee of Amaranth Advisors, LLC, a Greenwich-based hedge fund that collapsed in 2006. However, he left before the collapse to start ARCIM Advisors, LLC, an investment management firm focused on commodities. He later co-founded Northlander Advisors, an investment firm with a focus on European energy, in 2012, and currently runs its operations.

According to his website, Arora is a first generation American, who emigrated to the U.S. as a graduate school student from India.

“I still remember the day when my flight landed and I realized that I did not know a single person in the entire country,’ he sates on his website.

“While I came to this country alone, from the day I arrived, I was the beneficiary of the generosity of Americans. Strangers became friends and partners. One such friend, Nisha, became the special person of my life in my American journey. Nisha and I are blessed with three children who are the love of our lives.”