Gabriel Bousbib, President and Chief Executive Officer of multi-manager PlusFunds Group, Inc., has resigned to pursue other interests.
Bousbib will serve as an advisor to PlusFunds Group, Inc.'s Board of Directors until 28 February 2005. A replacement for Bousbib will be announced shortly.
Chris Sugrue, PlusFunds Group, Inc.'s Chairman, said: "Gabriel led the firm's dramatic growth, taking it from the novel, unproven concept of hedge fund indices in 2001 to the largest independently owned hedge fund managed account platform in the world, with nearly USD 3 billion currently under management. We are pleased that the firm will continue to benefit from Gabriel's insights and expertise for the next few months."
Bousbib "Over the past 3 years, we have built a strong and flexible hedge fund infrastructure which now supports a large number of sophisticated institutional investors and financial intermediaries, for both index-based and actively managed hedge fund programs. I am confident that PlusFunds Group, Inc. will maintain the leadership position it has achieved today, as a provider of innovative hedge fund investment services and products."