Hedge Fund 1798 Adds Dillon Read Vets

May 13 2008 | 11:37am ET

1798 Global Partners, the new hedge fund founded by Swiss private bank Lombard Odier Darier Hentsch, is mining the ranks of Dillon Read Capital Management veterans to fill out its executive suite.

1798, seeded with US$350 million by its parent, is led by CEO Hubert Keller and former Dillon Read global head of equities Aziz Nahas, who is chief investment officer at 1798. Nahas has hired four of his former colleagues at Dillon Read, which saw parent UBS pull the plug a year ago after hundreds of millions in losses.

Oleg Rakov will manage a U.S. financial services hedge fund in his new post, with Lewis Katz also joining 1798 as head trader, Damian Dwan as chief operating officer and Don Kucera as technology chief.

Nahas and his foursome are not the only Dillon Read veterans getting off the mat. Mike Hutchins, the former CIO at Dillon Read, is preparing his own hedge fund shop, which reportedly employs 15 Dillon Read veterans.


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