People News: Departures - BofA, Daiwa Asset Management, Morgan Stanley, UBS, Fulcrum Asset Management

Exit Sign

Michael Halloran, Asia-Pacific head of fixed-income, currencies and commodities at Bank of America, plans to leave the firm after more than four years there, two people with knowledge of the matter said.

Bloomberg reports that the departure may be announced as early as next week, one of the people said, declining to be identified because the matter hasn’t been disclosed publicly.

And two Daiwa Asset Management Co. fund managers in Singapore, who advised on investing in Indian stocks, have left the firm, said two people with knowledge of the matter.

Sudhindra Ballal and Vikas Sharda, who advised on three funds with $260 million in assets, the first of which was set up in December 2007, were asked to leave in late October, said the people, who requested anonymity as the matter is private. The advisory role moved to managers in India, they said.

The news organisation also reports that Eric Ohayon, co-head of European credit sales at Morgan Stanley, is leaving the investment bank as it plans to reduce 1,600 jobs.

Ohayon, reached on his mobile phone today, confirmed his departure and declined to comment on the reason for the move. A spokesman for Morgan Stanley declined to comment on Ohayon.

Bloomberg also reports that Darrell Uden, a managing director and co-head of equity capital markets for UBS in Europe, is leaving the firm, said two people with knowledge of the matter.

Uden, who joined UBS in 2011 after working for Citigroup Inc., is leaving for personal reasons, said one of the people, asking not to be named as the details aren’t public.

The news organisation also reports that Fulcrum Asset Management LLP, the $1.4bn computer-driven hedge fund group founded by former British Broadcasting Corp. Chairman Gavyn Davies, has lost its head trader, James Horrocks.

Horrocks resigned December 31st, according to a filing on the website of the U.K.’s Companies House. He left after four years at the firm for personal reasons and will be relocating to South Africa, Chief Executive Officer Andrew Stevens said in a telephone interview from London earlier this week. A replacement has been found and will be announced in due course, he said.

Finally, Bloomberg reports that former Hochfeld Capital Management manager Berton Hochfeld pleaded guilty to securities fraud and wire fraud charges related to an investment scheme, U.S. prosecutors said.

Hochfeld, 66, who managed the $6m Hepplewhite Fund, admitted in a hearing this week before U.S. District Judge Paul Crotty that he stole more than $1m from investors, according to a statement from the office of U.S. Attorney Preet Bharara in Manhattan.

BofA’s Head of Asia-Pacific FICC Halloran Said to Plan Departure

Two Daiwa Asset Fund Managers Said to Leave Firm in Singapore

Morgan Stanley Europe Credit Sales Banker Ohayon to Leave Firm

UBS Co-Head of European ECM Darrell Uden Said to Depart

Davies’s Fulcrum Hedge Fund Head Trader Horrocks Departs

Ex-Hedge-Fund Manager Hochfeld Pleads Guilty to Fraud

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