Armajaro Holdings Ltd., owner of a London-based hedge fund founded by Richard Gower and Anthony Ward, named Michael Hutchinson as chairman.
The appointment is effective next week, the company said in an e-mailed response to questions from Bloomberg today. Hutchinson, 65, stepped down from the board of Armajaro Trading Group Ltd., a unit of the holding firm that supplies sugar, cocoa and coffee. The resignation happened yesterday, according to a U.K.’s Companies House filing.
Hutchinson, who will replace interim chairman Ward at Armajaro Holdings, will still chair the trading division’s risk committee, Armajaro said. Hutchinson declined to comment when contacted by Bloomberg today. Armajaro Holdings, founded in 1998, manages seven funds under the company’s asset management arm, which include the CC+ Fund focused on cocoa and coffee and the CZAR+ Fund that invests in sugar. Armajaro Asset Management LLP started an equities fund last year.
Hutchinson is a former chairman of RBS Sempra Metals Ltd., a part of RBS Sempra Commodities LLP that was acquired by JPMorgan & Chase Co. in 2010. He resigned as a director of bulk commodities trader RB Metalloyd Ltd. on Nov. 7, according to a separate Companies House filing. Metalloyd confirmed he is no longer with the company.
He also served on the board of the London Metal Exchange and was chairman of U.K. metals trader Wogen Plc.
Armajaro’s Commodities Fund returned 1.6 percent last year, according to data compiled by Bloomberg.