Bank of America's ex-head of equity distribution is hiring for his hedge fund
Memories being what they are in financial services, some people may already have forgotten about Michel Sindelar, the former head of Eastern Europe, Middle East and Africa (EEMEA) equities and then EMEA distribution at Bank of America (BofA) who disappeared in October 2018. Not for long, however: Sindelar is back, and he is hiring.
In January this year, Sindelar joined Duet Group, the global investment company founded in 2002 as CEO and CIO of and CIO of EMIM Global Opportunities Fund, an Emerging Markets Multi Strategy Fund. His arrival follows that of Erik Renander as a portfolio manager on the EMIM Africa opportunities fund in May 2019.
It's still early days but Sindelar is already contemplating recruiting for his new business. Duet operates a model similar to Lighthouse Investment Partners, in backing promising portfolio managers to start their own funds, and Sindelar will therefore have freedom to pursue his own strategy. He expects to launch two new funds under the EMIM umbrella.
"We are looking to expand and hire ," Sindelar tells us. Preliminary recruits are expected in marketing, and he is also looking for a junior portfolio manager and execution trader. Many of EMIM's existing employees have 20 years' plus experience in emerging markets, so Sindelar says new recruits are more likely to be junior than other senior figures from the market.
Sindelar has more than 25 years of experience both on the buy and sell side across Emerging Markets. He has worked at Bank of America, Morgan Stanley and Credit Suisse in New York and London. He started his career at Credit Suisse Asset management before moving to Lombard Odier to manage an EEMEA Equity fund.
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