Bob Serhus, the head of Julius Baer’s US fund of hedge fund operations, is expected to resign within the next few weeks, according to report...

Bob Serhus, the head of Julius Baer’s US fund of hedge fund operations, is expected to resign within the next few weeks, according to reports in the US media. Mr Serhus, who is also chief investment officer of Baer’s alternative investment business in the US, has been on undisclosed leave of absence since March and plans to resign as soon as severance terms can be agreed. The New York-based investment unit of Zurich's Julius Baer manages $4.5 billion in alternative assets in the US. Mr Serhus was mostly involved with the day-to-day management of the group's fund of funds business, with $2 billion under management in 90 underlying hedge fund managers. Mr Serhus told The Street.com: "I had been with Julius Baer for four years. I needed a break.” Mr Serhus joined Julius Baer in May 2001 from fund-of-funds Alpha Investment Management, now part of Safra Bank. Before that, he created SCS Global, a small multi-strategy fund-of-funds in New York.