Andrew Tay, head of Asia sales at Dresdner Kleinwort Wasserstein, has left to join Boyer Allan Investment Management, a London-based hedge fund.

Tay will co-manage the $260m (€284.8m) Boyer Allan Pacific hedge fund as an analyst and fund manager. The hedge fund, launched in November 1998, is up 136% since inception, compared to the market, which is up 3%, said Nicholas Allan, founding partner.