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Abax CEO Quits Due To ‘Differing Views’
November 25, 2008
Abax Global Capital co-founder Chris Hsu has resigned as CEO of the Hong Kong-based hedge fund.
Hsu’s departure follows a disagreement with his partners over the firm’s direction. Fellow co-founder and Abax president Donald Yang has assumed Hsu’s responsibilities, Reuters reports.
“There were differing views on the direction of the business,” a spokesman told the news agency.
Hsu will remain with the firm as a senior adviser, according to Reuters. He remains Abax’s largest shareholder.
Abax debuted last year with about US$300 million. The firm was founded by Hsu, formerly of Citadel Investment Group, Yang, a Merrill Lynch veteran, and Frank Qian, also formerly of Citadel.
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