Thursday, 25 August 2016
Last updated 5 hours ago
Oct 12 2010 | 12:35pm ET
Swiss private bank Lombard Odier Darier Hentsch's asset management arm is taking advantage of the troubles of smaller hedge funds.
Lombard Odier Investment Managers has hired a team of three from French hedge fund Selectium Capital, which is closing its doors. Marc Bataillon, who founded Paris-based Selectium six years ago, senior analyst Cyril Marquarie and risk and operations manager Arnaud Mallet become Lombard Odier's 13th hedge fund team, Financial News reports.
Selectium is in the process of being wound down. The firm struggled to grow despite returning 51% since inception, never managing more than US$520 million.
"The powerful track record that Marc and his team bring to Lombard Odier and their fundamental approach with a strong risk management culture complements what we’ve built. It further strengthens our European hedge funds expertise," new boss Aziz Nahas, chief investment officer for equities, said. "Marc’s drive and ‘calling’ to manage long/short European equities will help fuel our continued success."