Hermes BPK Founder Quits

Sep 13 2012 | 7:49am ET

One of the founding partners of fund of hedge funds Hermes BPK Partners and its CEO since its launch four years ago will leave the firm.

Matteo Dante Perruccio will step down at the end of the year but founding partners and co-Chief Investment Advisors Gregory Knott and Mark Barker will continue in their roles, Hermes BPK said.

Hermes was set up by Perruccio, the former co-CEO of Olympia Group, and Hermes Fund Managers. The firm suffered a drop in operating profit last year as it swung to a loss as compensation costs grew.

"We thank Matteo for his dedication and for all that he has achieved in a very challenging environment," HFM CEO Saker Nusseibeh said. "We wish him every success for the future."

"I would like to thank Saker Nusseibeh and Hermes for their unwavering support building a successful business over the past four years," Perruccio, also a former CEO of Pioneer Asset Management, said. "I am confident Hermes BPK will continue on its road to success and remain an innovative leader in the industry."

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