Blaine Tomlinson, the founder of the fund-of-hedge-funds business FRM, now part of Man Group, has stepped down from the board of trustees of the education charity, whose full name is Absolute Return for Kids.
His departure comes less than a year after that of Arpad Busson, who stepped down in November 2015. Tomlinson, together with Busson and others including Paul Marshall and Ian Wace of hedge fund Marshall Wace, set up Ark in 2002.
In a statement, a spokesman for the charity said that Tomlinson had spent 15 years on the board but had decided to spend more time abroad and felt the time was right to focus on his other commitments.
Apart from Wace, who chairs Ark’s trustee board, and Marshall, the trustees include former Goldman Sachs partner Anthony Williams, Lord Stanley Fink, the chairman of hedge fund Isam, and Paul Dunning, who has worked for decades in hedge funds.