NASDAQ First North Growth Market-listed digital asset firm Hilbert Group AB named Richard Murray as CEO of its asset division, Hilbert Capital, as a continuation of the firm’s vision to offer greater access to cryptocurrencies and blockchain technologies.
Murray had been the head of investor relations at London activist hedge fund firm Cevian Capital, and has held business development roles at Finisterre Capital and Brevan Howard Asset Management.
“We are very pleased to have Richard onboard as the CEO of Hilbert Capital,” said Niclas Sandström, Hilbert Group’s CEO. “Richard will lead the development of the business and investor solutions for asset management. We have spent five years quietly developing our investment strategy, track record and operating platform. Richard now joins to scale this business in an environment where institutions around the world are beginning to allocate to investment solutions like Hilbert’s.”
In joining Hilbert, Murray also brings with him a team of senior business developers who all worked together at Brevan Howard. Multiple buy-side specialists including traders and operations leads join to bring the total headcount to 20.
This team is contracted to work with Richard to distribute our fund solutions in the key institutional markets for us in North America, Europe, Asia and the Middle East.
“Richard and I worked closely together for five years at Finisterre Capital, and I consider him to be one of the most impactful business-builders in the industry,” said Sandström. “His expertise and network in buy-side sales/distribution and marketing will be instrumental to the success of our asset management activities.”
Additionally, Bruce Terry, the former U.S. CEO at Brevan Howard has joined Hilbert’s Advisory Board. The firm, which had $20 million in AUM at the end of 2021, is launching with a $5 million seed from partners and is lining up to $20 million for a funder’s share class in the coming months.
“Digital assets will be the asset class with the most compelling opportunities for institutional investors over the next 10 years,” said Murray. “I am excited to team up with former buy-side colleagues from Finisterre and Brevan Howard to lead the development and growth of Hilbert as cryptocurrencies become an emerging and compelling alternative asset class.”
Hilbert’s sole focus is on digital assets, primarily cryptocurrencies and blockchain technologies. The business model is diversified into four verticals – asset management, proprietary trading, equity investments and data & analytics.
The team takes a quantitative approach to digital asset investment. The strategies are created via a core trading algorithm that has an audited track record dating back to 2017. The algorithm is built to take advantage of market conditions in real time to provide a scalable and differentiated investment solution in an asset class that is known for high volatility and lots of inefficiencies.
Murray is expected to help Hilbert to deepen its institutional relationships and the scalability of its strategy.