Reuters- Financial Risk Management (FRM), a $12 billion fund that invests in hedge funds, said on Thursday that Andy Brindle, chief executive of its U.S. unit, will leave, its second U.S. CEO to leave in less than a year.
London-based FRM didn’t give a reason for Brindle’s departure, but disclosed the change after “an extensive review” of its management structure. It said “the performance across FRM’s range of portfolios has been strong.”
Carrie McCabe, the former president and CEO of Blackstone Alternative Asset Management, had been CEO of the U.S. division until last November, when she was replaced by Brindle.
Daniel Florsheim, chief operating officer of FRM Americas and group CFO, will manage the New York office.
FRM said Blaine Tomlinson, founder and group CEO, becomes chairman of the firm, while Brian Robinson, former group business manager, becomes group CEO.
