GLG Loses MENA Manager

Sep 7 2010 | 8:24am ET

As GLG Partners nears its tie-up with the Man Group, there’s been a shake-up in its Middle East and North Africa ranks.

Mark Krombas has left the firm, Fund Strategy reports, while Mark Diab has joined GLG as a portfolio manager. Diab will oversee MENA equities as part of the GLG emerging markets team.

His entry comes several months after the departure of Krombas, who joined GLG last year when the hedge fund bought Société Générale Asset Management. It is unclear why Krombas left the London-based firm, or what his future plans are.

“We are delighted that Mark is joining GLG – his knowledge of the MENA region, as well as his broad investment and financial services experience will be an added strength to the GLG emerging markets team. He has a fantastic investment track record and we look forward to the significant contribution that Mark will bring to the firm going forward,” said Bart Turtelboom co-head of emerging markets.

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