New Star chief investment officer and UK hedge fund manager Alan Miller has stepped down from both roles to be replaced by Gregor Logan and Guy Crossfield respectively.
New Star says Miller is taking a sabbatical until the end of the year to spend more time with his family and that a decision on his future at the company will be taken at that time.
Gregor Logan steps up from the position of joint deputy CIO while fellow joint deputy CIO and UK growth fund manager Stephen Whittaker will work alongside new recruit Guy Crossfield on Miller’s UK hedge fund.
Crossland joins later this month from Investec where he is currently senior investment professional.
Miller was involved in a high profile divorce case last year and in recent months his hedge fund has underperformed, although New Star claims his departure is unrelated to the fund’s underperformance.