Hedge fund moves round - up.

Ex Deutsche Bank duo set to launch a distressed debt hedge fund

Former associates from Deutsche Bank, Michael Sutton and Alex Mahler, are reuniting at Alinor Capital Management, founded by Mahler, to initiate a new hedge fund specialising in distressed debt. Bloomberg reports that this launch is anticipated to be among the most significant European hedge fund debuts of the year.

As per undisclosed sources familiar with the situation cited by Bloomberg, the upcoming fund is projected to commence with a minimum of $500 million in assets, concentrating its investments on debt associated with financially distressed companies.

NewGAMe proposes new GAM CEO candidate after hedge fund veteran Freeman backs out

According to a report by Financial News, Elmar Zumbuehl, who currently serves as GAM's Chief Risk Officer, has been suggested as the potential CEO candidate for the company. This development comes after Randel Freeman, a seasoned hedge fund professional initially slated for the position, withdrew from consideration citing "unexpected family circumstances"

Just hours before an extraordinary general meeting scheduled for September 27th, in which shareholders of the Swiss asset management company were set to vote on a new board, Freeman's decision was made. Freeman, who co-founded Centaurus Capital, a hedge fund group in 2000, had been designated as the favoured candidate for the position by activist investor group NewGAMe back in August. This decision followed an unsuccessful attempt by UK-based asset manager Liontrust to acquire the Zurich-based firm. However, in a statement released on September 26th, NewGAMe, which is under the control of French telecom billionaire Xavier Niel and his company Rock Investment and owns a 9.6% stake in GAM, announced that Elmar Zumbuehl, the current Chief Risk Officer, would now be their new preferred choice for the top position.

UBS introduces an experienced trader to its US execution centre.

Brian Williamson, a seasoned trading executive, has joined UBS Group's US execution centre, which offers a range of services aimed at helping hedge funds and asset managers lower the operational costs associated with running an in-house trading desk. As reported by Bloomberg, an internal staff memo confirms Williamson's appointment at UBS as an Executive Director, Sales and Relationship Manager.

Williamson brings with him a 30-year career, including previous roles such as Head of Sales at trading firm Luminex and Senior Global Relationship Manager at Liquidnet. He spent over 15 years at the Boston Company, culminating in his role as Vice President, Micro and Small Cap Growth Equity Trader.

ExodusPoint add two new members to their team

ExodusPoint have added two new members to their growing team. Mike Lapsa, joins the team as Head of Systematic Strategies in New York and Peter McConnon joins as the new Senior Managing Director based in London.

Mike Lapsa brings with him a wealth of experience, spanning over 15 years in evaluating and cultivating quantitative and systematic businesses. Pete joins their fixed income business and brings with him over 3 decades of invaluable experience. He has achieved remarkable success as both a macro portfolio manager and macro business leader.