U.K.-based Clareville Capital said Angus Donaldson will join the firm in September to back up David Yarrow, founder, in portfolio and risk management, as well as taking responsibility for operations, compliance and financial control.

Donaldson was head of U.K. equity sales at Dresdner Kleinwort from 1998 to 2002, before leaving to establish Corin Capital—a U.K.-focused hedge fund, which reportedly closed in March.

“Markets are very challenging and it will be enormously beneficial to have his understanding and knowledge in the office,” said Yarrow.

Clareville also said its operating officer, Roy Hay, is leaving the firm because it is currently focusing solely on its Pegasus Fund. The firm reportedly shuttered its India fund last month after weak demand in a tough market, the Financial Times reports.