{"id":8541,"date":"2008-09-05T00:00:00","date_gmt":"2008-09-05T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"rab-capital-hedge-fund-chief-to-step-down","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/rab-capital-hedge-fund-chief-to-step-down.html","title":{"rendered":"RAB Capital Hedge Fund Chief to Step Down"},"content":{"rendered":"<p class=\"MsoNormal\">New York (HedgeCo.Net) &#8211; Philip Richards, head of hedge fund RAB Capital, is stepping down and will be replaced with Finance Director Stephen Couttie, according to a statement made by the company yesterday.<\/p>\n<p class=\"MsoNormal\">Richards ran the $1.4 billion Special Situations Fund, which received poor press and even worse returns when it lost millions thanks to the nationalization of Northern Rock in February.<\/p>\n<p class=\"MsoNormal\">Richards will still be employed by RAB, serving as an executive director while still managing the Global Mining and Resources funds, which holds assets of around $210 million.&nbsp; He made headlines recently with his controversial personal stake in Bahamas-based oil exploration company BPC, in which his Special Situations Fund along with Falkland Gold &amp; Minerals facilitated a takeover bid that earned him a hefty paycheck.<\/p>\n<p class=\"MsoNormal\">RAB currently manages around $5.9 billion in assets, a sharp drop from the over $7 billion it managed in 2007.<\/p>\n<p>Julie Scuderi<br \/>Senior Editor for HedgeCo.Net<br \/>Email: julie@hedgeco.net <\/p>\n<p>HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!<br \/>Be sure to check out our sister sites. For more information, visit www.hedgeconetworks.com<\/p>\n<p class=\"MsoNormal\">&nbsp;<\/p>\n<p class=\"MsoNormal\">&nbsp;<\/p>\n<p class=\"MsoNormal\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Philip Richards, head of hedge fund RAB Capital, is stepping down and will be replaced with Finance Director Stephen Couttie, according to a statement made by the company yesterday. Richards ran the $1.4 billion Special Situations [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[532,2474,303,2515,932,110,1819,1818,2292,595,65,129,2517,2516,2518],"class_list":["post-8541","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","tag-april-29","tag-british-musicians","tag-brokerages","tag-chinese-government","tag-current-trends","tag-due-diligence-service","tag-forefront","tag-glg-fund","tag-government-loans","tag-handsome-returns","tag-june-14","tag-losses","tag-oil-exploration-company","tag-srm","tag-unanimous-vote"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8541"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8541\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}