Peter Borish, CEO of Touradji Capital Management, left the commodities hedge fund founded by Paul Touradji after six months, becoming the fifth high-ranking executive to leave since the start of 2011.
Mr. Borish was let go last month, Bob Zito, a spokesman for the hedge fund, said by phone Tuesday. “He was originally on a six-month contract and had a CEO role focused on marketing,” he said. Mr. Borish couldn’t immediately be reached for comment.
Mr. Touradji told clients in a June 28 letter that the firm has been focusing on building its business rather than marketing, and as a result decided to cut staff in that area.
Mr. Borish’s departure adds to a roster of senior executives who left Touradji Capital in the past 18 months. Paul Crone, the former head of trading, left earlier this year after former CFO Tom Dwan and President Sang Lee departed in 2011. Gil Caffray, whom Mr. Touradji hired in 2009 to help run his business, also exited last year to join his former employer, Tiger Management.
Mr. Borish, a former head of research at hedge fund Tudor Investment, had joined Touradji Capital in January, replacing Mr. Touradji as CEO so the founder could focus on his role as chief investment officer, the firm told clients at the time.
“We appreciate the ability to keeping our focus unwavering and clear,” Mr. Touradji said in the June 28 letter. “So we will not be picking up Peter Borish’s contract for the second half of the season, and he will become a free agent again.”
Last September, Mr. Touradji said he was looking for “world-class” leaders and reiterated he planned to focus more on investing and delegate much of the day-to-day operations to others. In January, Mr. Touradji said that hiring Mr. Borish would allow him to focus on his CIO role.