Silver Ridge Asset Management Taps Page for COO Role

Dec 9 2015 | 5:49pm ET

Anil Prasad’s macro hedge fund Silver Ridge Asset Management has hired former Citigroup executive Michael Page as its chief operating officer now that it has been granted permission to trade by the U.K.’s Financial Conduct Authority. 

The FCA delayed approval of the new fund for more than nine months without giving a reason, although there has been speculation that the holdup was related to ongoing investigations into collusion among foreign exchange traders at large global banks. JPMorgan Chase, RBS, UBS and Barclays have paid large fines to settle allegations related to the alleged activity.

Prior to joining Silver Ridge, Page was a senior executive within the bank’s Global FXLM unit for eight years, according to Reuters. Already at Silver Ridge is former Perry Capital executive Santa Federico and former Comac Capital partner Anil Joshi, both of whom joined the founders of the firm, Prasad and fellow Citibank FX alum Farhang Mehregani, last April.

The fund will reportedly launch in the first week of January with $500 million in assets, a healthy amount for a start-up macro hedge fund in the current environment. Its eventual target is $1 billion.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…