NETHERLANDS – Erik van Dijk, the former principle and CEO of Palladyne Asset Management in Amsterdam has left the company and is believed to be pursuing research interests in the US.

The move accompanies a change in the business slant of the quant house, with the focus shifting towards the retail market under new parent group Old Mutual, which acquired Palladyne as part of last year’s buy-out of United Asset Management (UAM).

Martin van Zant, principal at Palladyne, comments: “The new Old Mutual/UAM is concentrating its affiliates in the States and is looking at making seven core groups of different styles and they have a large concentration of quantitative people also.
“ It will be concentrated in Boston and the specific research area on the institutional side is going to be done in Boston, so in that respect we are changing strategy here in Holland – doing less on the institutional side and offering more on the retail side, because they want to be served locally. In the context of institutions we will function more as account managers.”

Commenting on van Dijk’s departure, van Zant adds: “The latest thing that I hear on Erik is that he is in the States doing something on the research side.”