Lead Manager to Step Down From ‘Chocfinger’ Hedge Fund

WSJ – One of the lead managers at Armajaro Asset Management LLP, a London-based hedge fund that once purchased 7% of the world’s supply of cocoa, is stepping back from day-to-day management.

John Tilney, 60, a former veteran of commodity trader Glencore , joined Armajaro in 2004 to set up the flagship Armajaro Commodities Fund. He will step down as lead manager to the fund from April this year to become an adviser, according to a spokesman for the firm. He will be replaced by Oliver Denny, a co-manager on the fund, and a partner of Armajaro.

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