BlueCrest Loses Fixed-Income Specialist Ilott

Jan 11 2010 | 12:35pm ET

Steve Ilott is out at BlueCrest Capital Management, little more than a year after he joined the British hedge fund to increase its offerings for institutional investors.

Ilott left the firm at the end of last year, Financial News reports. Former colleagues of the Aberdeen Asset Management and Deutsche Asset Management veteran say he’ll likely found his own firm in the near future.

After a stint as head of fixed-income at both Aberdeen and Deutsche AM, Ilott joined BlueCrest in September 2008. He led the firm’s Alignment Investors group, which builds lower-risk strategies, especially absolute-return fixed-income products, designed for institutional investors.

The group has raised more than US$1 billion. Alignment’s three other co-founders remain at BlueCrest, according to a filing with the Financial Services Authority.

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