After just a year on the job, Robert Picard is out as Lyxor Asset Management's point man on managed accounts.
Picard joined Lyxor last year, signing a one-year contract as U.S. head of managed account development. According to HFMWeek, Picard may have hoped for a promotion to CEO of Lyxor's U.S. business, although it is unclear why he chose to leave the firm.
Picard, who worked at Navigant Consulting, Optima Fund Management and the Carlyle Group before joining Lyxor, is staying busy, serving as a consultant for several hedge funds. He is expected to find a full-time job with another firm within a few months.