CQS Credit Investment Chief Finch Said to Be Exiting Hedge Fundby , , and
Simon Finch, who manages about $3 billion for CQS Investment Management Ltd. in London, is leaving the hedge fund, according to two people familiar with the matter, who asked not to be identified because the information is private.
As CQS’s chief investment officer for credit, he manages the firm’s Credit Multi Asset Fund, one of the largest held by the $12 billion hedge fund run by former Credit Suisse Group AG trader Michael Hintze. The long-only fund was up 5.2 percent through August after gaining 3.6 percent in 2015, according to investor letters seen by Bloomberg.
After a tough 2015 in which three of its hedge funds lost money, CQS has recovered this year. The $2.7 billion CQS Directional Opportunity Fund managed by Hintze, 63, gained 18.3 percent through August after losing almost 8 percent last year, according to the document.
Michael Rummel, a spokesman for CQS, declined to comment on the departure. Finch didn’t reply to calls and e-mails seeking comment.
Finch is the latest in a string of employees to leave the firm this year. Simon Finn, who led a unit buying distressed debt in Europe, and foreign-exchange trader Christopher Callan, were among at least 12 people who have departed.
Finch has worked in asset management for more than 20 years. He first joined CQS in 2004 before spending about a year at Peloton Partners in 2007 and returned to Hintze’s firm in 2008, according to his registration with the U.K.’s Financial Conduct Authority. Before joining CQS, he worked at Abbey National where he traded asset-backed securities, according to an investor report.
CQS trades asset-backed securities, credit, convertibles, loans and equities from offices globally including London, New York, Sydney, according to its website.