BlueCrest Said to Shut Trader’s Book on Losses Tied to Franc
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BlueCrest Capital Management shut a portfolio run by Peter Von Maydell after the Swiss franc’s surge last week sparked losses, according to a person with knowledge of the decision.
Von Maydell, a currency trader, remains at the hedge fund, said the person, who asked not to be identified because the matter is private. Von Maydell joined the $15 billion, Jersey-based firm two years ago from Credit Suisse Group AG, where he was global head of foreign-exchange strategy. He didn’t respond to phone calls and e-mails seeking comment.