Employees Fleeing Segantii

Jan 31 2014 | 12:17pm ET

Following a hiring spree in 2012, Segantii Capital Management is suffering something of a staff exodus.

The firm, which parted ways with six employees last year, has seen another five staff members turn in their resignations, Reuters reports. Capital markets and event-driven chief Fei Chen left the Hong Kong-based firm earlier this month. Financing chief Kirtes Bharti and convertible bond and volatility trader Lewis Fellas will leave next month.

Derek Tam, a relative-value portfolio manager, and Patrick Ko, who headed Segantii's back-office operations, have also resigned.

Segantii hired at least 10 people in 2012—when its assets more than doubled. Among those added that year were Bharti and Fellas.

But the US$750 million firm suffered its first-ever down year in 2013. Since its inception in 2007, Hong Kong regulators have issued 41 staff licenses to Segantii; the firm currently has only 18 license holders.

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