• Ruiz Friis posted an update 1 month, 4 weeks ago  · 

    When is a whistleblower not the protagonist but the villain?

    The protection of Whistleblowers is a crucial element in contemporary corporate governance. In the UK they are safeguarded by legislation and rightly so. But the motivations of whistleblowers and their behaviours change a whole lot. So while it’s vitally important that they are protected, they shouldn’t be immune from criticism. There are many things that can inspire a person to report their coworkers. Here is the story of a whistleblower who almost destroyed a company by his activities. It raises the question: if the whistleblower likewise be held to account for what they do.

    In May of 2009, the Korean investment home GAM acquired Augustus Asset Managers Limited, a fixed income and foreign exchange investment management company, and brought in Tim Hayward and Daniel Sheard. Both became co-managers of a complete return bond that made them and GAM a whole lot of money over the next ten years. (Sheard bought his six-bedroom house with indoor swimming pool in Grantham for 850k money in 2010 and four bedroom vacation home in"Chelsea on sea", north Norfolk, for #475k in 2014. Also without a mortgage)

    In May 2011, Sheard and Hayward, established GAM’s Unconstrained Bond Strategy made to generate positive absolute returns with a low correlation to international bond markets — this became the Absolute Return Bond Fund. GAM’s Unconstrained fixed sales group was mostly established in London with a group of 28 people, including three co-portfolio managers, Hayward and Sheard and Jack Flaherty, who oversaw strategy. Most of them have now been made redundant.

    Haywood had joined Augustus (subsequently Julius Baer Investments Limited) in 1998 in Orient Overseas International Limited in Hong Kong, where he was Chief Investment Officer. He’d functioned as both CIO and CEO of Augustus, established the hedge fund company, in addition to being the founder and unique investment director of an emerging market bond fund. Haywood did his MBA at the University of Cranfield and a BSc in Chemical Engineering at Edinburgh, and had passed the General Securities Registered Representatives examination.

    Sheard had united Augustus in 2006 as deputy Chief Investment Officer and became Chief Investment Officer in 2008. Sheard formerly worked at Prudential M&G, where he was a Director of the Institutional Fixed Income group. Prior to this he was a Principal within the Advanced Strategies group at Barclays Global Investors, and before that was an Associate Director within the Fixed Income unit in Schroders. Before that he was dismissed from HYPO Foreign & Colonial, who he joined from university, as soon as an overvaluation of the advantage was detected while he was away on vacation. Sheard holds a BSc in Financial Services in the University of Manchester Institute of Science and Technology, a Postgraduate Diploma of Law from Nottingham Trent University, and is a charter holder of the Chartered Institute of Bankers.

    Sheard and Haywrd became the co-manager of the company. Mr.Daniel Sheard, a co-manager of ARBF range in GAM.For more information kindly visit
    Daniel Sheard.