Hintze's CQS Hedge Fund Said to Part With 12 Traders, Managersby and
Money managers Simon Finn and Amir Kooros are among at least 12 people who have left CQS Investment Management Ltd. as performance at some of its hedge funds whipsawed, according to two people familiar with the matter.
Christopher Callan, a foreign-exchange trader who moved to CQS from Moore Capital Management last year, loan trader Kashem Rahman and Leila Kotlar-Bouget, global head of client services, also departed, said the people who asked not to be identified because the information is private.
The London-based investment firm run by former Credit Suisse Group AG trader Michael Hintze, 62, lost money last year in three of its hedge funds, according to a letter sent to investors this week and seen by Bloomberg News. The funds recovered in March, with the $2.9 billion CQS Directional Opportunity Fund gaining 16.3 percent, its best ever monthly performance, after losing almost 8 percent last year.
“A firm of a certain size and maturity will always have natural turnover,” Michael Rummel, a spokesman for CQS, said in a statement. “Market volatility has thrown up significant opportunities in our core credit strategies and we are seeing interest from clients in credit and bespoke mandates,” he said, declining to elaborate on individuals leaving the firm.
Callan and Rahman declined to comment. Kotlar-Bouget and Kooros did not reply to requests for comment. Finn could not be reached.
Finn joined CQS in 2014, having previously worked for Apollo Global Management LLC, and led a unit buying distressed debt in Europe. Kooros, the former head of equity derivatives at Swiss Reinsurance Co., joined the firm in 2003.
CQS trades asset-backed securities, credit, convertibles, loans and equities. It manages $12 billion and employs 268 staff in offices from London and New York to Hong Kong, according to a document seen by Bloomberg News.
Hedge funds lost about 1 percent globally last year and were down 2.6 percent in the first two months of the year, according to data from Hedge Fund Research Inc.