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Senior staff exit hedge fund firm Bluecrest -source
* Head of trading strategy systems at Bluetrend exits
* 3 partners and one fund manager also leave
* Firm runs around $24 bln, last month closed Ucits fund
By Laurence Fletcher
LONDON, Dec 1 (Reuters) - Bluecrest Capital, Europe's third-biggest hedge fund firm, has parted company with its head of trading strategy systems and three partners, a source familiar with the matter told Reuters. Justo Ruiz-Ferrer, who worked as head of trading strategy systems and quantitative development at the firm's $10 billion Bluetrend unit, quit the firm in recent months, said the source.
Bluetrend, headed by Leda Braga, was one of the top-performing computer-driven hedge funds during the financial crisis.
Bluecrest declined to comment.
In addition, Jeremy Gelber, a fund manager who has since moved to rival SFM UK, and partners Bojan Milicic, who worked in sales, Luigi La Ferla and Martin Stokes also left in recent months, the source said. Bluecrest manages approximately $24 billion in assets.
Last month Bluecrest said it would close its $630 million Bluetrend Ucits fund because of its inability to replicate sufficiently the performance of the main offshore Bluetrend fund. [ID:nLDE69Q2NX]
In recent months firms such as Man Group (EMG.L) and D.E. Shaw have made job cuts as the industry struggles to recover from the crisis. [ID:nLDE69R1JD] [ID:nN29277572].
(Editing by Douwe Miedema)
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