There has been a change at the top of a high-profile hedge fund businesses.

Joachim Gottschalk, the founder of Gottex, has resigned as chief executive and executive director of the fund management firm. He will be replaced temporarily by Arpad Busson.

While the group is in the process of identifying and engaging a new chief executive, the board of directors has appointed Busson as executive chairmain of Gottex. It is an independent global asset management group with offices in Guernsey, Geneva, London, Hong Kong, New York, Boston and Luxembourg.

The board of directors of Gottex Fund Management Holdings has thanked Gottschalk for his many years of dedicated service to the company.

Busson founded the EIM Group, which merged with Gottex in December 2013, in 1992 to provide tailor made solutions to the institutional market for hedge funds. 

Since the 1980s, Busson has been raising assets for a number of hedge fund managers. He has experience as an industry expert on a number of panels for French, Swiss, German and US regulatory bodies and is a founding member of the Alternative Investment Management Association. He is also a founding trustee of Absolute Return for Kids as part of his charity work.

At the end of March 2015, Gottex Group had $8.5 billion of total client assets.