Crypto asset manager Hilbert Capital names Cevian's Murray as CEO (updated)
05/07/2022 10:40
(Adds AUM, new investment strategy)
LONDON, July 5 (Reuters) - Cryptocurrency asset manager
Hilbert Capital has hired former Cevian Capital executive
Richard Murray as CEO, it said on Tuesday.
Murray was previously director of investor relations at
activist investor Cevian. He has also worked at hedge funds
Finisterre and Brevan Howard Asset Management, Hilbert said in a
statement.
Murray will bring with him a team of senior business
developers who worked together at Brevan Howard, to focus on
attracting institutional clients in North America, Europe, Asia
and the Middle East, Hilbert said.
Cryptocurrencies have taken a battering this year.
Bitcoin lost around 57% in the first half BTC=BTSP , while
ether has dropped 71% ETH=BTSP . urn:newsml:reuters.com:*:nL4N2Y42NY
But Murray said institutional demand for cryptocurrencies
was growing.
"We're in an environment where cryptocurrencies and funds
are rapidly moving from the fringe to the core," he told
Reuters, adding that institutional investors were looking for
crypto investment strategies that reduced the risk of large
market swings.
Hilbert Capital, the asset management arm of crypto hedge
fund Hilbert Group, had $20 million in cryptocurrency assets
under management at end-2021 and is launching a new investment
strategy aimed at institutional investors in the next two
months, Murray said.
Hilbert Group was founded in 2018 and is listed on Nasdaq
First North Growth Market Sweden.
Murray's appointment is effective from Tuesday.
Bruce Terry, former U.S. CEO at Brevan Howard, is joining
Hilbert's advisory board, Murray said.
(Reporting by Carolyn Cohn; Editing by Ed Osmond and Alex
Richardson)
((carolyn.cohn@thomsonreuters.com; 44 207 513 4391;))