The former manager of HSBC’s GH fund of hedge funds left his post last month, in the wake of the banking group’s decision to merge its discretionary and advisory businesses.
Tim Gascoigne’s departure was confirmed for Reuters by a bank spokeswoman. Gascoigne, who was global head of portfolio management, ran the $2.4 billion fund of funds at HSBC Alternative Investments Limited.
HAIL, with $7.8 billion AUM, manages funds of hedge funds, private equity and real estate. Gascoigne oversaw about $4 billion of the $38 billion HSBC manages in alternative investments.
Faraz Sultan, the head of the banking group’s advisory business, will now take charge of the combined advisory/discretionary business.