BlueCrest sheds about 10 portfolio managers and traders

BlueCrest Capital Management has lost about 10 portfolio managers and traders in recent months, with several exits concentrated in its rates trading desk, according to people familiar with the matter. The departures include staff who have already left and others preparing to leave the firm.

Among those reported to be leaving is Ben Turner, a 26-year-old rates specialist who joined BlueCrest from Barclays and was promoted to partner on May 1. Turner remains listed with the UK Financial Conduct Authority as associated with BlueCrest, suggesting his exit may not be final.

Other personnel moves and departures recorded in regulatory filings and professional profiles include Robert Robinson, who was removed from BlueCrest’s UK entity on Sept. 25; Tom Bowden, who has taken a role at Wellington; Ankur Aneja, who left earlier in the year; and Ben Atlas, who moved to ExodusPoint.

The reported exits are concentrated in BlueCrest’s rates trading operation, which is run from Miami by Joseph Walkrush.

Regulatory records show staggered departure dates, indicating a rolling series of exits rather than a single mass departure. Some staff still appear on official registers, so not all reported departures are confirmed as complete.

BlueCrest did not respond to requests for comment and has not disclosed reasons for the departures or whether the firm is undertaking any wider organisational changes.

Rates and macro trading strategies have faced difficult market conditions this year, prompting some firms in the sector to adjust staffing and allocations in response to trading and risk pressures.