Eleonore Dachicourt is Deutsche Bank’s new head of hedge fund sales in Asia, a completely new role the bank established just for her.Dachicourt was snapped up from Credit Suisse Asset Management, where she was head of the alternative investments group’s private mandates teams, a few months ago, but she’s just now planning to move from Singapore, where she’s currently to Hong Kong for her new gig.
The role, which is part of the German bank’s private wealth management group, will have Dachicourt trying to lure clients to “boost their exposure to hedge funds,” says FinAlternatives, an effort they’re dedicating more than one person to.
The bank also created a new position entitled ‘managing director and head of North Asia client solutions’ to meet demand from its exploding number of wealthy clients in the region. That gig has gone to Tony Tang, a former Citi man.
The blondie (who, we’re guessing, taps pink as her favourite colour) hails from France, where she attended one of the country’s most prestigious commerce schools, École supérieure de commerce de Reims.
After she graduated in ’99, she made her way through a whole host of banks (Banque du Louvre; UBS Wealth Management; Barclays Wealth) in various hedge fund capacities, before landing at Credit Suisse in 2005. She earned a CFA along the way too.
In 2007, on the subject of hedge funds not accepting cash sometimes thrown at them by investors, she told the FT:”‘Capacity has definitely become one of the buzzwords in the hedge fund world.”
She then went on to explain that her unit at Credit Suisse, due to their close relationships with hedge funds, could get investors access to “soft closed” funds. That is, funds open only to new money from their existing investors.
“Hedge funds know us well and we are able to secure capacity from soft-closed managers that are closed to ordinary investors,” Dachicourt says.
What a way to close.
Obviously Deutsche is hoping she can bring that selling talent to charming clients into hedge fund investment in Asia.
From various comments it seems like hers is a hands-on approach, in which bankers have to sit down with clients and seriously analyse the diversification of their portfolio, and restructure it if its too narrow.
She also had something to say about the increasing institutionalisation of hedge funds (see Ray Dalio), and how that was discouraging high-net-worth individuals from investing 2007.
By contrast, she says, she has all the time in the world to meet with clients.
For some of our ultra-high-net-worth clients hedge fund investing is almost a hobby. Many like to spend time meeting with the managers, and that’s something not all funds of funds managers are happy to accommodate. Many run one-size-fits-all multi-strategy funds and it’s difficult for clients to give their input into the construction of the portfolio.
The flip and switch. This girl is a dynamo.
She’ll be reporting to Pascal Botteron, head of hedge and mutual funds at Deutsche private wealth management, and Anurag Mahesh, head of global investment solutions for the Asia-Pacific region.
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