Tuesday, 28 July 2015
Last updated 11 hours ago
Jan 30 2012 | 2:03pm ET
A slimmed-down RAB Capital has parted ways with its CEO.
Charles Kirwan-Taylor has left the hedge fund after leading its downsizing and delisting from London's Alternative Investment Market last year. Co-founder and chairman Micheal Alen-Buckley has now added Kirwan-Taylor's former responsibilities to his own.
"Charles did a great job of managing the process of downsizing," Alen-Buckley told Financial News, "but since we took the company private there was not the same need for an independent chief executive."
Alen-Buckley said that the once-US$7 billion firm hopes to rebuild its fortunes as a private company. Assets under management have stabilized at US$350 million, and RAB is sitting on more than £40 million in cash and reserves.
Kirwan-Taylor joined RAB less than a year-and-a-half ago, the firm's third CEO in as many years. He served as RAB's chief investment officer prior to taking the top job.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…