A portfolio manager is set to retire from Highbridge Capital Management, the US hedge fund business owned by JP Morgan, at the end of a year when he made money predicting the bidding war for Dutch bank ABN Amro.

Richard Schneider, 51, had spent 14 years managing event-driven strategies for Highbridge and was portfolio manager of the $700m (€487m) Highbridge Event Driven Relative Value fund. The strategy seeks to make money by taking long or short positions in equity and bonds in companies involved in a takeover or a restructuring.