Hopewell Wood, the former chief executive officer of Glen Point Capital, has left her position as president at hedge fund Commonwealth Asset Management, following the arrest of Glen Point co-founder Neil Phillips last week, according to a report by Bloomberg.
Hopewell Wood, the former chief executive officer of Glen Point Capital, has left her position as president at hedge fund Commonwealth Asset Management, following the arrest of Glen Point co-founder Neil Phillips last week, according to a report by Bloomberg.
Wood, who joined Commonwealth as in April and focused on business development and managing non-investment operations, was previously at Glen Pint where she worked from the firm’s launch in 2015 until late last year, shortly after air announced a plan to merge with Eisler Capital, a deal that subsequently failed to materialise.
Phillips has been charged with with fraud by US prosecutors who allege that attempted to manipulate the exchange rate between the US dollar and the South African rand in 2017 to cash in on a $20 million wager succeed. The hedge fund manager was arrested in Spain at the request of US authorities last week.
Wood’s departure from Commonis the lates in a series of knock-on effects from Phillips’ arrest with former Glen Point executives at firms including Balyasny Asset Management and Kirkoswald Asset Management have already either been put on leave or left their companies.
