Reports: Key figure leaves Elliott Management after €20m fine – he is on the Milan board

By Oliver Fisher -

Franck Tuil is no longer part of the Elliott Management Corporation fund, and the businessman was on the AC Milan board.

It has been reported by authoritative financial newspapers such as Bloomberg and Financial Times that Elliott’s senior portfolio manager in Europe – Franck Tuil – has left after almost 20 years.

Tuil started in 2001 as an analyst in Elliott’s London office, and he led the company’s expansion into Europe, playing a key role in a number of high profile agreements.

The French manager is also a member of the Milan Board of Directors, the club which Elliott Management Corporation has owned since July 2018. Tuil himself had been the protagonist in the acquisition of the club by the American fund, after Yonghong Li had not been able to repay his debts.

He is considered one of Europe’s most feared activist investors and loyal lieutenant of Gordon Singer, head of the London office and son of founder Paul Singer.

The news of his farewell arrives in the week in which the American hedge fund was fined €20million by the French authorities for hindering an investigation into the acquisition of Norbert Dentressangle by XPO Logistics in 2015.

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