Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
11/08/2010
Deutsche Bank moves to reshuffle Ucits team
Responsibility for sales at Deutsche Bank’s Ucits platform has been assigned to Angharad Fitzwilliams, director of the firm’s hedge fund capital group, following the resignation of former chief James Orme-Smith, HFMWeek has learned.
Sources close to developments say Fitzwilliams, the current author of the German bank’s annual Alternative Investment Survey, will not be assuming Orme-Smith’s role as such, but the new Ucits-based responsibilities will see her standing within the firm rise.
The rest of Orme-Smith’s responsibilities are to be allocated to other Deutsche bank staff, rather than a new hire, the source said. Deutsche Bank declined to comment.
Orme-Smith is credited with driving business to the bank’s Ucits-compliant hedge fund platform, Platinum. Last month, HFMWeek broke the news that big-name managers John Paulson and Barton Biggs would be taking Ucits-complaint versions of their funds to the platform.
Orme-Smith left Deutsche last month to take up a senior role within Bank of America Merrill Lynch’s synthetic sales division. He will assume his new post in October.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
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