Saturday, 2 August 2014
Last updated 12 hours ago
Oct 12 2011 | 6:25am ET
One of the top managers at Canadian fund family Dynamic Funds has left the firm just months after its parent was acquired by the Bank of Nova Scotia.
David Taylor managed several mutual funds and a hedge fund at Dynamic, which was part of DundeeWealth. All told, he was responsible for some C$8 billion in assets.
Taylor said he wasn't thrilled by the prospect of working for a major bank or big firm, and that he planned to launch his own eponymous firm next year.
"I want to become part of a smaller company with my name on it. I want to grow something really exciting," he told the Globe and Mail. "It hasn't anything to do with what the bank did, but maybe indirectly because it is difficult to feel like a big fish in a small pond when you work for a C$56 billion company."
Taylor is also leaving during one of his worst-ever years. His hedge fund, Dynamic Contrarian, is down some 38% this year; it will be taken over Adam Donsky.