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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...