Stephen Moore has been named the head of Threadneedle Investment’s U.S. equity hedge fund in the wake of Mike Corcell’s departure.

Moore, who manages the firm’s 130/30 American Extended Alpha Fund, served as Corcell’s deputy at the US$567 million American Crescendo Fund from 2004 to 2006. Cormac Weldon, who heads Threadneedle’s U.S. equities group, will serve as deputy manager.

The Crescendo fund returned in excess of 30% last year.

Corcell, who joined the firm just prior to Crescendo’s launch, is leaving for an unidentified firm, Financial News reports.