Goldman Sachs Asset Management's $4.4bn (€4.3bn) hedge fund strategies group has been hit by the loss of Michael Leahy, the unit's treasurer and 17-year veteran, to SEI Investments, the US based multi-manager firm.

Leahy's departure comes just weeks after the promotion of Europe based Hugh Lawson and Nadja Pinnavaia to co-head the hedge fund strategies group. Their appointments followed the sudden resignation in October of David Burnside, former head of the group, to pursue other opportunities outside GSAM.