Hedge-Fund Traders Fight BlueCrest’s Michael Platt Over Bonuses
- Platt stopped backing equity-trading business, traders say
- Billionaire said unit’s presentation left him needing Prozac
This article is for subscribers only.
BlueCrest Capital Management is suing two former traders who say they were forced to leave when the hedge fund’s billionaire owner, Michael Platt, described the equity trading business as “crap” and hinted it could close.
The traders, Alex Codrington and Russell Hartley, say they felt they had no future at the firm after an unpleasant meeting with Platt on plans for his fund’s stock trading. They allege in a Nov. 29 filing prepared for a London court case that Platt said the discussion was so depressing that he should have brought the drug Prozac.