LMR Partners, a London-based hedge-fund agency with $5 billion of property below administration, employed former US head of fairness derivatives at Bank of America Merrill Lynch, William Hillegass, who brings over 15 years of expertise to the multistrategy fund.
Hillegass joins LMR Partners, which has workplaces in London, Hong Kong, and New York, to run a pool of investments betting on shares globally with a give attention to fairness capital-markets occasions.
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Prior to this appointment, William labored at BAML for almost two years, based mostly in New York, the place he most just lately served as a managing director and head of fairness derivatives buying and selling for the Americas. Merrill Lynch was just lately fined $42 million for deceptive institutional prospects about the way it dealt with their buying and selling orders. The Bank of America Corp.’s unit settled SEC’s allegations that it routed thousands and thousands of buyer inventory orders to outdoors brokers whereas telling them it had executed the transactions internally.
Stints at Lehman Brothers and UBS
Hillegass joined Merrill Lynch in 2017 after an eight-year tenure with Barclays, the place he was managing director of equities answerable for the financial institution’s fairness derivatives portfolio throughout completely different sectors.
Before that, Hillegass was a derivatives dealer at Lehman Brothers and took on the same position at UBS the place he began his profession in 2003. He labored for a collective sixteen years in a number of completely different segments.
LMR Partners, which makes use of each computer-driven and discretionary buying and selling types, was amongst top-performing hedge-fund startups in its early phases. LMR Partners’ $2.7 billion LMR Fund returned 30 % in 2010, its first yr, 38 % in 2012, and 10.2 % in 2017. Despite mounting prices and investor reluctance following a poor efficiency in 2018, LMR Partners’ managed to boost extra funds due to its managers’ observe report.
Andrew Manuel, a former fairness dealer for Goldman Sachs, based LMR with former UBS quant merchants Ben Levine and Stefan Renold in 2009 with assist from Don Sussman’s Paloma Partners.