Bluecrest Capital Management, the former hedge fund which became a family office nearly two years ago is understood to have parted company with one of its most senior equities traders in London.
Insiders say that Derek Flynn, the fund's head of equity execution trading, left on Friday after three years. Flynn joined Bluecrest as a senior equities trader in 2013 after working as a prop trader for Nomura. He was hired by Christian Dalban, Nomura's former head of equities trading. Dalban himself joined Bluecrest in 2013 and proceeded to build an equities team spread across London. New York and Singapore, hiring right through to September 2016.
Dalban left Bluecrest in June 2017 and Flynn's exit is said to be the latest of several from the equities team Dalban built. The BlueCrest Equity Strategies fund was launched in March 2015 with a target of $2bn. A few months later, Bluecrest began returning money to outside investors.
Flynn didn't respond to a request to comment on his exit. For the moment, the FCA Register suggests Flynn is still technically employed at Bluecrest. Flynn is a graduate of the University of Limerick with a bachelors degree in Computer Systems, Systems Analysis, Database Design and Programming.
Whilst its equities business is being depleted, Bluecrest has been adding in other areas. In June, for example, it recruited a macro trader from Goldman Sachs.
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