AsianInvestor reported on January 26 that Singapore hedge fund managers Steve Diggle and Richard Magides were closing down their hedge fund Artradis and handing back investor funds, while they formulate new plans and ventures.

AsianInvestor can now confirm that their COO and former Lehman colleague Jim Sweeney is leaving Singapore and will join hedge fund Boyer Allen as CEO. He will be based in Hong Kong from April 1, reporting to the Boyer Allen board and operationally to Boyer and Allen themselves.

His job is CEO of the Boyer Allen Group and he succeeds Roger Denby-Jones, who quit late last year to join Morgan Sze and co at Azentus Capital, the spin-out from Goldman Sachs' proprietary trading group.

Boyer Allen has two investment advisers, one in Hong Kong and one in London. There is also a Cayman manager. “I will be responsible for the entire business,” Sweeney confirms.

That will include fundraising and marketing, where he anticipates that his US networks will come into play. Responsibility for the marketing team at Artradis was also part of his former remit. Before he worked at Artradis, he was in the fund-linked products group at Credit Suisse.