RAB Capital hires a new chief exec

RAB CAPITAL has hired Charles Kirwan-Taylor as its new chief executive, replacing Stephen Couttie.

Kirwan-Taylor was previously chief investment officer at the firm, having joined in 2008 during the last management shake-up. He becomes the hedge fund’s third boss in less than two years.

Couttie has left to pursue interests outside the group, but will continue to assist RAB on an advisory basis, the company said in a statement.

Kirwan-Taylor quit his job as chairman of UK corporate broking at Credit Suisse in 2006 to set up Greyshrike Capital, a hedge fund focused on European equities.

While at Credit Suisse he advised on several high profile transactions, including the privatisation of Telecom Italia, the flotation of Alstom and the initial public offerings of easyJet and Qinetiq.

RAB, which focuses on energy and commodities funds and is also well-known for its failed bet on Northern Rock, reported a loss before tax and exceptional items of £6.9m in 2009.

Executive chairman Michael Alen-Buckley said:?“His experience in financial markets and as CIO and head of Risk at RAB mean that he is ideally placed to lead the group in its next phase of development as we focus on delivering out-performing risk-adjusted returns for investors.”