LONDON Jan 10 High-profile banker Mehmet
Dalman has left hedge fund firm Toscafund to focus on his other
roles, including a directorship at ENRC, the Kazakh
miner involved in a messy corporate governance fight last year.
Cyprus-born Dalman quit as partner and vice-chairman at the
London-based fund manager, which once ran $6-8 billion before
its flagship fund fell around 60 percent in 2008, although it
later recovered some of those losses.
The former head of Commerzbank's investment
banking arm told Reuters in an interview on Tuesday that he
needed to "concentrate on other things I want to do".
"I feel I have done my work for Tosca," he said, adding:
"2008, 2009, 2010 were important years, and I think we did that
well. The company is in pretty good shape, it doesn't need a
Dalman, whose clients have included Manchester United soccer
club owner Malcolm Glazer and newspaper owner Richard Desmond,
found himself at the eye of a corporate governance storm at ENRC
last year when long-running tensions between the group's founder
shareholders and some board members spilled over into a public
Two well-known independent non-executive directors were
voted off the board in June, leaving Dalman and Paul Judge as
the only remaining UK non-executive board members.
Dalman was said at the time to have considered leaving ENRC,
but stayed on through an internal corporate governance review
and was named senior independent director in September, when the
results of the review were announced.
Dalman, who once contemplated a career as a professional
football player, will continue to be involved with Toscafund's
Property fund and its Photography fund, which invests in fine
art photography, said Toscafund chief economist Savvas Savouri.
"His commitments with ENRC and interests in China have grown
considerably. He's a great friend for me and all the firm
still," he said.