James Duckworth-Chad has fled the sinking ship that is RAB Capital for a hedge fund not in imminent danger of ceasing to exist.
A sales director at RAB for almost four years, Duckworth-Chad will join Chilton Investment Co., Dow Jones reports. The US$7 billion firm specializes in long/short equity investments.
RAB last week finalized plans to de-list from the Alternative Investment Market and become a private company. The firm will halve its staff and this week struck a deal to sell two of its hedge funds, holding on to just four. RAB said its assets under management will drop below US$200 million by October, down from US$7 billion four years ago.