PlusFunds Group Inc., a New York hedge fund manager, said Wednesday that Gabriel Bousbib, its president and chief executive officer, has resigned to pursue other interests. Bousbib is to advise the board of directors until Feb. 28 to help ease the transition to a successor who is to be announced shortly.

Since becoming president and chief executive officer in 2001, Bousbib led dramatic growth in the company, taking it to a status among the largest independently owned hedge fund managed account platforms in the world, with nearly $3 billion under management.

Bousbib, 39, said in an interview Wednesday that he joined PlusFunds as it grew from being a small dot.com company to a midsize player in the hedge fund business. "I have achieved what I set to achieve here," he said. "This is a good break point for me."

He will take a few months off and then begin looking for his next job, he said, and he wants to consider opportunities both within and outside the hedge fund industry.

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