Exane Asset Management fund manager, Hervé Ragagnon, is handing over full responsibility for the long term strategy of its largest and oldest hedge fund.
Ragagnon has managed the Gulliver fund, which had assets under management of $1.9 billion in June, for 10 years.
The decision was a “joint” one according to a letter written to investors yesterday (18 October 2010).
Philippe Sanlaville, chief executive of Paris-based Exane, states that Ragagnon will be stepping back during the first half of 2011 while remaining an adviser to the fund.
He will hand over full responsibility for the long term defensive strategy to Alexandre Dergatcheff, co-manager of the fund, on 1 January 2011.
Pair trading and arbitrage strategy is managed by Frederic Gourdeau since he joined