David Ross, head of quantitative strategies at Old Mutual Asset Managers in London, is leaving next month after nine years with the firm to set up his own hedge fund business along with three colleagues from Old Mutual's quantitative team. He declined to name the colleagues involved or to comment further on the new business.
As a result, Old Mutual has hired Eoin Murray, European head of quantitative management at Northern Trust Global Investments in London, to replace Ross, according to Simon Wilson, head of marketing at Old Mutual in London. Murray is expected to start next month, taking with him Northern Trust's Gavin Brown, enhanced indexing researcher, and Anna Perrian, portfolio manager. Murray was on gardening leave and could not be reached.
Amit Popat, business development director for the U.K., said Murray will have the opportunity at Old Mutual to work in hedge funds. It's unlikely that Northern Trust will hire a replacement for Brown or Murray, because Rodney Fernandes, European head of quantitative portfolio management at Northern Trust in London, is overseeing the firm's quant and enhanced indexation businesses.
