GSA CEO Quits Again

May 20 2010 | 10:39am ET

A year after he quit the first time, Joseph Novarro has again resigned from hedge fund GSA Capital.

Novarro told Financial News that his departure stemmed from disagreements about business strategy between himself and GSA founder Jonathan Hiscock. He resigned last week, but will remain on for at least three months to assist with the transition.

Novarro resigned from the London-based firm last May. But that time, he was persuaded to withdraw his resignation during his notice period.

GSA, which spun off from Deutsche Bank five years ago, has been struggling to rebuild its assets under management since the 2008 financial crisis. The firm, which once managed US$2.5 billion, was hit with redemptions totaling approximately half that. GSA did not impose any redemption restrictions, and now manages about US$650 million.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...