November 28, 2023

LONDON, July 5 (Reuters) – Crypto asset manager Hilbert Capital said it has appointed former CEO of Sevian Capital, Richard Murray, as CEO.

Murray was previously the Director of Investor Relations at activist investor Sevian. Hilbert said in a statement that he also worked for hedge funds Finisterre and Brevan Howard Asset Management.

Hilbert said Murray will bring with him a team of senior business developers who have worked together at Brevan Howard, to focus on attracting institutional clients in North America, Europe, Asia and the Middle East.

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Cryptocurrencies have taken a huge hit this year.

Bitcoin lost about 57% in the first halving, while Ether fell by 71%. Read more

But Murray said institutional demand for cryptocurrencies is growing.

“We are in an environment where cryptocurrencies and funds are rapidly moving from margin to underlying,” he told Reuters, adding that institutional investors are looking for crypto investment strategies that reduce the risk of significant market volatility.

Hilbert Capital is the asset management arm of the crypto hedge fund Hilbert Group, which was founded in 2018 and is listed on Nasdaq, Sweden’s number one Nordic growth market.

Murray’s appointment is effective as of Tuesday.

Murray said Bruce Terry, former US CEO of Brevan Howard, will join Hilbert’s advisory board.

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(Reporting by Caroline Cohen), Editing by Ed Osmond

Our criteria: Thomson Reuters Trust Principles.

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