Greg Clerkson, who came to Russell in August 2010 from Royal Bank of Canada Investment Management, joined BlueCrest Capital Management as head of global consultant relations in January, according to two people familiar with the move.
He reports to Bob Shea, the firm's London-based head of sales and marketing.
Management IssuesClerkson declined to comment. A spokesman for BlueCrest confirmed the hire. A spokeswoman for Russell said that Clerkson's responsibilities have been absorbed by Nick Spencer, a director in the firm's consulting business.At BlueCrest, Clerkson is charged with spearheading UK institutional coverage. The firm's strong performance and institutional infrastructure have made it a favourite of consultants and pension funds alike. It took in more money than any other European hedge fund manager in 2010, growing assets from $16.2bn to $24.6bn. It raised a further net $4bn in assets last year.
Management IssuesOver the three years to the end of 2011, the flagship BlueCrest Capital International – a fixed income global macro hedge fund – annualised at 20.30%, while the systematic BlueTrend has annualised at 6.69% in the same period.Against a backdrop of surging assets, however, BlueCrest has struggled to hang onto sales staff. Shea is the fourth person to hold the head of sales role in the past three years. Separately, about a year ago, Kerry Duffain, a partner and head of UK institutional, left to be in charge of business development at startup hedge fund manager Markham Rae.Russell's hedge fund solutions business covers three areas: funds of hedge funds, customised solutions and hedge fund advisory, where Clerkson worked. In 2008 the firm was forced to shut down its fund of funds business – which managed $6.8bn at its peak in 2007 - due to liquidity problems but last year decided to resurrect it.Under Len Brennan, Russell's chief executive officer, who replaced incumbent Andrew Doman last summer, it is understood that the firm has been focusing on its asset management business. Within hedge fund solutions, the focus is increasingly on finding managers for the fund of funds business, rather than for advisory clients, a person familiar with the situation said. Hedge fund advisory can take several forms, including search activity, operational due diligence and monitoring investments.
Fat Chance: Diet Coke Fights Obesity?
For related articles and more information, please visit OCA's Food Safety page and our Millions Against Monsanto page.
Overweight 6-Year-Old Vows To Change Lifestyle After Second Heart Attack
HOUSTON—Describing his second heart failure in the span of two years as “a real wake up call,” obese 6-year-old Nicholas Bleyer announced Tuesday that he was finally trying to turn his life around.
Obesity rates rise in county schools
By the time students in Forsyth County reach high school, more than 40 percent of them are overweight or obese, according to a BMI study released by Winston-Salem/Forsyth County Schools.
