Wednesday, 24 August 2016
Last updated 10 hours ago
Oct 22 2010 | 1:33pm ET
Former Goldman Sachs executive Jeff Blumberg is set to take the reins at Egerton Capital after just six months at the hedge fund.
Blumberg will succeed Helen Avery as CEO of the London-based firm, which has US$4.5 billion in assets under management, at the end of the year, Financial News reports. Avery, who has been with Egerton since its launched in 1994, has been CEO for five years.
Blumberg joined Egerton in June from Goldman Sachs Asset Management, where he was co-chief operating officer of hedge fund strategies, charged with strengthening the firm's business. Mark Standish, currently head of fund operations at Egerton, will take over Blumberg's seat as chief operating officer.
For her part, Avery will "pursue other interests outside the financial sector," Egerton told investors in a letter.