Catella, the Swedish asset manager, has confirmed reports that a number of its portfolio managers have departed – although there is a discrepancy between the number it says have left and the number being reported in local media.
Business daily Dagens Industri said that six staff were leaving to join an asset management business set up by investment bank Carnegie, which is part of the stable of businesses owned by Stockholm-based Altor Equity Partners.
Catella, for its part, has released a statement confirming that staff are leaving, but suggesting that the number involved comprise “four fund managers”
“We regret that these individuals have chosen to leave Catella. Catella has the expertise and resources necessary to ensure the management of our funds in both the short term and long term,” said Erik Kjellgren, head of Catella’s Swedish fund management operations.
“Over the past year we have recruited senior people with extensive experience in active management of both equity funds and hedge funds, in order to reduce dependence of the fund management on individuals. The Catella Hedgefond fund is managed by a team, and three experienced managers remain in place to ensure continuity. A new recruitment to the team has already been made, and we will make additional appointments in the near future.”
“Catella has both the resources and the desire to attract the best individuals to continue to strengthen our fund management team in order to generate value for our clients, which is our principal focus both now and in the future.”