Arpad “Arki” Busson, one of the world’s best-known hedge fund managers, has been named executive chairman of Gottex Fund Management.
Mr Busson, the ex-fiancé of actress Uma Thurman and founder of the Ark charity ball, merged his EIM Group with Gottex in 2013 to create a firm that now has more than $8bn (£5.2bn) of client assets.
The deal brought the 52-year-old French financier together with Joachim Gottschalk who, at 69, has decided to step down as chief executive having founded the company in 1992. Mr Busson will take the reins while the hedge fund searches for a new chief executive.
According to Gottex’s latest annual numbers, the EIM deal is expected to result in more than $20m of synergies and see the enlarged group return to profit later this year. It slipped to a $12.3 m operating loss in 2014 on the back of lower fees and the late completion of the merger.
Earlier this year, Gottex said: “We operate in a challenging environment which includes global political uncertainty, potential deflationary forces, tension among EU countries and governments using foreign exchange devaluations as instruments to become competitive again.”Reuse content