Two experienced members of Amundi’s London-based alternatives selection team have left the asset manager in recent months, HFMWeek has learned.
Navik Patel, who was the firm’s head of global macro and CTA strategies, left in April; while Boris Kergall, a former hedge fund analyst, departed in June.
Amundi hasn’t hired replacements for either Kergall or Patel. Instead their responsibilities have been transferred to Dublin-based Paul Weber, the firm’s global head of fund research and manager selection, and his team.
The Paris-headquartered fund manager has overhauled its staffing structures following the closure of a number of high-profile deals.
At the start of 2018 it reached an agreement with Goldman Sachs to manage the bank’s $3.5bn Ucits platform. Prior to that, it completed its acquisition of Pioneer in the summer of 2017 in a tie-up that was designed to deliver €180m ($208m) in cost savings within three years.
After leaving Amundi, Patel was involved in advising the $1bn global macro manager Karya Capital on its options for opening a London-based subsidiary.
Prior to Amundi, Patel spent five years as a senior investment manager at Aberdeen Asset Management.
From 2002 to 2010, Patel worked at RBS where he managed both funds-of-funds and funds-of-hedge-funds. He started his career in finance at Coutts where he conducted fund research.
Kergall held various roles at Société Générale, rising to the role of equity derivatives trader, before joining Amundi in 2014.
Amundi, which manages €1.5trn in assets, couldn’t immediately be reached for comment on the departures.
Amundi’s hedge fund selection team sees departures on HFM InvestHedge.