People Moves

Kevin Choi departing from Cosmo

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Kevin Choi, the highly regarded Korea equity long/short specialist and founder of one of South Korea's largest independent advisory firms, Cosmo Investment Management, is leaving the establishment at the end of June 2010.

A firm official confirmed that Choi will be stepping down as CEO at the end of the month. His departure from Seoul-based Cosmo comes as South Korean conglomerate Lotte Group, which owns about 30% of the firm, plans to enter the hedge fund business.

Shuhei Abe's Sparx took a 68% controlling stake in Cosmo in 2005, after which Cosmo saw its assets grow seven fold to