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BlueBay founders sell
Tue, 07 Feb, 2012
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BlueBay founders sell
Fri, 19 Feb 2010, 16:58:00
BlueBay Asset Management
's chief executive and chief investment officer have each raised more than £21m from selling part of their stakes in the manager of fixed income funds. Co-founder Hugh Willis has always been chief executive of BlueBay since its inception in 2001. He previously worked at JP Morgan and Kleinwort Benson. Mark Poole is also a co-founder of BlueBay and has been chief investment officer since it started trading. He has previously worked at Credit Suisse First Boston, JP Morgan and Kleinwort Benson. Willis and Poole each sold 6.5m shares at 325p each. Both men will own 16.88m shares, which equates to 8.66% of the share capital. London-based BlueBay had assets under management of $34.3bn at the end of 2009. It joined the Main Market on 22 November 2006. In the six months to September 2009, profit before tax soared 202% to £26m and the dividend increased by 341% to 7.5p a share. The BlueBay share price has risen by 264% in the past year.
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