Two Goldman Partners Part Ways

Date: Friday, September 14, 2007
Author: Hedge Fund Daily

Another high-profile couple has split up. On one side is a former media boss/economist and on the other, a former star trader—both formerly hail from Goldman Sachs. Former BBC Chairman Gavyn Davies, who also has served as chief economist at Goldman Sachs, and Christian Siva-Jothy, formerly global head of macro proprietary trading at Goldman, have dissolved the partnership they launched in 2005. According to FT.com, the move was prompted by Davies who wanted his Fulcrum Asset Management to avoid further bad publicity surrounding the poor performance of the hedge fund run by Siva-Jothy. While the launch of SemperMacro was one of the biggest British hedge fund launches and succeeded in raising more than $1 billion, it suffered in 2006 when it lost 15% of its value. Investors pulled out and the fund’s assets fell to $500 million, tainting the firm as a result. Fulcrum CEO Andrew Stevens, another Goldman alum, told FT.com that SemperMacro is recovering and is up for the year.