BlueCrest Loses Another Sales Team Member

Apr 18 2011 | 12:48pm ET

Soaring assets may be a good problem to have, but at BlueCrest Capital Management, it's a problem all the same.

The London-based hedge fund has lost another member of its sales and development team, despite boosting assets under management by more than 50% last year. The latest to quit is Kerry Duffain, who left the firm a few weeks ago, Financial News reports.

Duffain has been head of BlueCrest's U.K. institutional sales business. She follows two other sales and client relationship executives, Leila Kotlar-Bouget and Bojan Milicic, who left the firm in February to join CQS.

For her part, Duffain is not moving directly into a new job, according to FN.

"BlueCrest's problem is similar to that of other large hedge fund managers: Many of they funds are closed to new investors due to capacity constraints, the open funds' performance does the selling for them, and so the sales team is often used as a client relations person responsible for care and maintenance," a source familiar with the situation told FN.

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