Mariner Investment’s Co-CIO Williams to Leave $5.5 Billion Firmby and
Williams is leaving after failed contract renegotiations
The firm’s founder Michaelcheck will become sole CIO
Basil Williams, co-chief investment officer of Mariner Investment Group, is leaving the $5.5 billion hedge-fund firm after negotiations to renew his contract failed.
Williams will stay in his role until the end of the month, after which the firm’s founder and co-CIO William Michaelcheck will become sole CIO, the firm said in a statement. Williams declined to comment.
"Mariner and Basil Williams have elected to part ways after being unable to successfully renegotiate Basil’s contract," the firm said. Negotiations had been ongoing for several months.
Williams became deputy CIO in 2013, when Mariner acquired his alternative asset management firm Concordia Advisors. Concordia, which managed $1 billion at the time, focused on relative value trading in rates, credit and equity markets.
New York-based Mariner was founded in 1992 and runs hedge funds and funds of funds.