Lehman's CAO quits for hedge fund

Paul Cuthbert-Brown, Chief Administrative Officer for Lehman Brothers in Asia, has resigned to join Creo Capital, a newly launched Asian hedge fund in Singapore. Cuthbert-Brown was previously based in Tokyo.

He has been Lehman's Asian CAO for the last eight years, reporting directly to the president and COO of Lehman Brothers. He has also held senior management positions with Lehman in Hong Kong and London.

Cuthbert-Brown joins ex-Lehman pals Richard Lemerman and Ed Strover, as well as ex-JPMorgan research analyst Sandeep Dhingra, as the fourth principal in Creo Capital. Creo launched its Pan Asian long/short fund earlier this month, with $20 million to 25 million raised from friends and family.

The fund has a capacity of $750 million. "Although we're a new team, we have all worked together before and know each other extremely well, so there's strong trust and respect between us," says Creo principal Ed Strover.

Cuthbert-Brown will begin his role as COO of the new hedge fund on July 1. "It is extremely important to us that our operational procedures match the highest benchmarks from day one. From his role at Lehman, Paul is experienced with all aspects of running a business, including regulatory and compliance, tax and accounting as well as IT and communications, and his addition brings a crucial operational focus and strength to our team,- Strover says.

Strover adds that Cuthbert-Brown completes the Creo launch team, which includes eight members. The team recently added two members to take responsibility for portfolio administration, Sophie Biswas and Hsu Tat Wee.