Toscafund Vice Chair Quits

Jan 12 2012 | 5:08am ET

Mehmet Dalman, the vice chairman of Toscafund Asset Management, has left the hedge fund.

Dalman, who was a partner of the firm and who formerly led Commerzbank’s investment bank, quit to focus on his other jobs and interests. The WMG Advisors founder told Reuters that he wanted to “concentrate on other things I want to do.”

“I feel I have done my work for Tosca,” he said. “2008, 2009, 2010 were important years, and I think we did that well. The company is in pretty good shape; it doesn’t need a vice chairman.”

Dalman is a board member at Kazakh mining company ENRC, where he was involved in a nasty corporate governance fight last year. “His commitments with ENRC and interests in China have grown considerably,” Tosca chief economist Savvas Savouri told Reuters.

Dalman will remain involved with Tosca’s property and photography fine art funds.

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