Breaking News: Frank Tuil lascia Elliott

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Franck Tuil, senior portfolio manager in Europe for Elliott Management Corp., has left the hedge fund firm after nearly two decades, according to people with knowledge of the matter. Staff at the firm led by Paul Singer were informed of Tuil’s departure in a recent internal memo, said the people, who asked not to be identified because the move hasn’t been made public. The memo stated that Tuil made the decision to leave the firm to pursue other opportunities.A representative of Elliott Management declined to comment. Tuil couldn’t immediately be reached for comment.

Tuil, who started in Elliott’s London office as an analyst, spearheaded the firm’s expansion into Europe. It was one of the first hedge funds to build a large London office, where the French national played a prominent role in a series of high-profile deals, such as pushing up the price Elliott got for its stake in Stada Arzneimittel AG when the German pharmaceuticals firm was acquired by private-equity firms in 2017. Tuil is also on the board of directors of Italian soccer giant AC Milan, which Elliott took over after the club’s Chinese owner couldn’t pay its debts.

Fonte Bloomberg

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