Following hedge fund Cadogan Management’ string of resignations last week, including that of its CEO, ahead of a deal for its owner Fortis to be acquired by BNP Paribas and which would put the hedge fund under its control, several management changes have been made, according to a BNP/Fortis spokesperson.
Last week, Stuart Leaf, Cadogan’s founder and CEO resigned, along with Michael Waldron, the chief risk officer and an investment-committee member when talks to spin off Cadogan from Fortis fell through.
Management changes that have been made and are effective immediately include:
-Joel Gantcher, Director of Research and Sander van Stijn, Director of Investments, have become co-CIOs.
-Dorothy Carmel, General Counsel and previously Director of Research, has been appointed Director of Research and Head of Risk.
-In addition, hedge fund sector veteran Christopher Fawcett will act as Special Advisor to Cadogan.
“Clients’ interestes remain the management team’s prime concern and given Cadogan’s strong portfolio management, risk and research teams we have every confidence in their abilkity to deliver,” the spokesperson said.