Richland Hires Three, Including COO, From BofA Prime Brokerage, Apex

Oct 15 2010 | 12:17pm ET

For its new chief operating officer, hedge fund Richland Capital Management went prime.

The Hong Kong-based hedge fund has hired Elena Lau, formerly a prime brokerage executive at Bank of America Merrill Lynch, to head its operations. Lau worked for five years at BofA, where she was a vice president, after previous stints at Goldman Sachs and JPMorgan Chase.

Richland didn’t raid its own prime brokerage to fill its COO post; the firm is serviced by UBS.

“After spending 14 years servicing hedge funds, I’m delighted to go to the buy-side,” Lau told Asian Investor.

She’s not the only new hire at Richland. The hedge fund has added Alden Chung and Wing Shek Lau from Apex Capital Management. Chung is a portfolio manager and handled event-driven and equity long/short strategies at Apex, while Lau was a trader.

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