James Caird Hires Two Traders From London Diversified

Jun 11 2010 | 11:38am ET

James Caird Asset Management is showing that a revolving door can go two ways.

The London-based hedge fund, buffeted by five departures in the last two months, has hired a pair of traders to boost its flagship JCAM Global Fund. Alireza Satrap and David Rule will trade global macro strategies at the US$2.4 billion fund, Financial News reports.

Both men join from struggling hedge fund London Diversified Fund Management, which they joined in 2005. Satrap, who joined London Diversified after a stint as head of foreign exchange and interest rates at Commerzbank Securities, left the firm in February. Rule quit last August.

It is believed that at least one of the James Caird exits—that of former European credit chief Iftikhar Ali after just nine months at the firm—was due to his unhappiness with the firm’s compensation policy, which is discretionary rather than performance-based. Ali joined Millennium Management’s London office.

The four others leaving the firm were credit trader Gopi Karunakaran, who is to join Tricadia Capital, treasurer Matthew Coleman, who went to Warwick Capital Partners, high-yield chief Askin Aziz and equity trader Benjamin Bouillou.


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