BlueMountain COO Quits

Aug 30 2010 | 1:09pm ET

Following the failure of his plan to license the firm’s technology, BlueMountain Capital Management’s Samuel Cole has left the firm.

Cole, who served as chief operating officer, left rather than return to his former post. He had been spearheading BlueMountain’s effort to sell its risk management and profit and loss technology to other hedge funds, pensions and endowments, Bloomberg News reports, but failed to recruit enough of them to get the venture off the ground.

Michael Liberman has been named to succeed Cole. Liberman helped set up Goldman Sachs’ derivatives risk-management system before joining BlueMountain.

For his part, Cole is “considering a variety of other options,” a BlueMountain spokesman told Bloomberg.

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...