By Tom Cahill and Katherine Burton March 11 (Bloomberg) — Antonio Munoz , chief executive officer of EIM USA Inc., left the U.S. arm of Arpad Busson ’s $9 billion fund-of-hedge-funds firm, according to two people with knowledge of the move. Munoz became head of the New York-based unit four years ago, said the people, who declined to be identified because the information is private. Gary Yannazzo, chief operating officer of EIM USA, will take charge of the office. Munoz and Busson, chairman and founder of Nyon, Switzerland-based investment firm EIM SA, couldn’t be reached for comment. A spokesman for EIM in London declined to comment. Busson, 47, had his first losing year in 2008, with EIM’s accounts down from 8 percent to 19 percent. The firm, which creates tailor-made portfolios for its clients, invested $230 million with Bernard Madoff , who is serving a 150 year prison term for leading the largest-ever Ponzi scheme. The firm’s assets have fallen about $2.5 billion since the beginning of 2009. To contact the reporters on this story: Tom Cahill in London at tcahill@bloomberg.net ; Katherine Burton in New York at kburton@bloomberg.net
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EIM USA Chief Antonio Munoz Is Said to Leave Busson’s Fund of Hedge Funds
