Odey Asset Management Appoints BoAML’s European Research HeadDidier Scemema, head of European technology research of Bank of America Merrill Lynch, has been appointed by Odey Asset Management, a London-based hedge fund with $6.2 billion AUM.
Scemema, who spent 13 years with ABN Amro and Royal Bank of Scotland before moving to BAML two years ago, is working his notice at the US bank and will leave on May 21, according to one of the people. Scemema did not return messages seeking comment.
At Odey he will join a team of more than 20 analysts. According to one of the people, analysts at the firm can earn as much as portfolio managers.
The firm, which is nominated in the long/short equities category at this year's for a Financial News hedge fund awards, enjoyed a strong 2013.
Founder Crispin Odey’s $2.4 billion Odey European fund was up 25.8% last year, after gaining 30.7% in 2012. Meanwhile, the $1.5 billion-plus CF Odey Absolute Return fund, run by portfolio managers James Hanbury and Jamie Grimston, was up 45% in 2013, after gaining 36.3% in 2012.
In recent weeks, the fund has been named as investor of online retailer boohoo.com and biotech company Circassia.Source: Financial News