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.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of