Investor Dollars Not Alone In Fleeing Och-Ziff

The hedge fund's compliance and IR people are taking a little breather.

The hedge fund of unsound method, in the midst of some fairly sizable redemptions due to that whole bribery scandal and concomitant guilty plea and $400 million fine, is bidding farewell to a few folks.

This is fun.

This is fun.

Among those departing are Drew Gillanders, a top European equity analyst; James Keith “JK” Brown, a partner and head of investor relations; and Paula Drake, chief compliance officer, said the people, who asked not to be identified discussing personnel matters. Hamish Chalmers, an analyst in London, also has exited, they said.

We have to admit that being Och-Ziff’s investor relations and compliance point people do not sound like fun jobs nowadays, no matter how optimistic Dan Och is feeling. None of them are talking, but Brown is off to “pursue other interests” this summer and Drake is moving back to Boston to escape the stench of compliance failures.

Meet the lucky people replacing them: To handle the growing number of calls seeking information on how to file redemption requests, Och-Ziff is replacing Brown with two other partners, Lee Minton and Nathan Urquhart. Biglaw partner Robert Mendelson is the hedge fund’s new CCO, charged with saying “no” as often as necessary every time the word “Africa” comes up with respect to an investment opportunity. Good luck to all of them.

Och-Ziff Executives Said to Leave After $13 Billion Withdrawn [Bloomberg]