JER Partners’s European head, Malcolm Le May, has left the company having been a president at the fund manager for six years.
Le May, who is now on garden leave, will be succeeded by Michael Pralle, a former GE Real Estate president and CEO who joined JER Partners a year and half ago as a president in the US.
Le May’s departure follows the exodus of directors Angus Dodd, James Bury and Marc de Chassey – all of whom were brought to the business under Le May.
Dodd left to work for Loan Star’s European business and Bury moved on to join Praedera Asset Management – the European out-of-town retail specialist.
The opportunity fund manager went on a hiring spree in the second half of last year, when it recruited David Merchant to develop its European debt business and Chester Barnes to takeover as head of European asset management.