GF Securities Co. said Monday the head of its Hong Kong unit has resigned from the firm, after losses rocked one of its hedge funds. Tang Xiaodong, who joined in May, stepped down for personal reasons, GF Securities said in the Monday statement. The unit he ran, GF Holdings (Hong Kong) Corp., had set up a hedge fund that lost more than $100 million last year, primarily on foreign exchange trades, leaving it with negative capital.
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