The changes have coincided with Post Advisory’s recent spell of lackluster returns. But it’s worth noting that Chyung remains the CIO and retains broad discretion over the firm’s investment decisions. The combative and tough culture that McCaughan publicly defended in years past also remains a sore point for many inside the firm.
For his part, Larry Post’s support of Chyung evaporated soon before he left. He wrote to McCaughan to criticize Chyung’s outbursts and to warn that clients were getting wind of the internal dysfunction when they asked ex-employees about their sudden departures, according to court documents.
“The path always leads back to him,” he wrote.
This story was provided by Bloomberg News.