Abax Global Capital
Abax Global Capital | Hedge Fund Notes
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Resource #1: (11.25.08) Abax Global Capital said on Monday that co-founder Chris Hsu had resigned as chief executive of the Hong Kong-based hedge fund manager following differences of opinion on its direction.
Hsu's responsibilities have been take over by president and co-founder Donald Yang, said a spokesman for Abax, which is partly owned by Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz).
"What we can confirm is that Chris Hsu is no longer the CEO of Abax. Donald Yang has assumed Chris' responsibilities," the spokesman said. "There were differing views on the direction of the business." The spokesman declined to comment further on the matter, except to note that "the rest of the team is intact".
Abax Global was one of Asia's most anticipated hedge fund start-ups of 2007, launching with about $300 million of assets under management. Source