Friday, 27 March 2015
Last updated 1 hour ago
Apr 11 2011 | 12:48pm ET
When former Gartmore Group star trader Guillaume Rambourg was cleared last month by British regulators over allegedly directing trades, his reuniting with former boss and top Gartmore manager Roger Guy became all but inevitable. And, indeed, the two men whose exits doomed Gartmore are joining forces once again to launch a hedge fund.
The two hope to launch the new fund later this year. Guy and Rambourg managed more than US$10 billion, more than one-third of Gartmore's total assets at the time. Many of those investors bolted when Guy announced his retirement in November, six months after Rambourg was suspended by the firm and four months after he quit to fight the Financial Services Authority investigation.
And many of those investors are poised to hand their money back to the team and their new hedge fund, published reports indicate.
"They both have excellent track records and it will be worth seeing how they go," one former investor told the Financial Times. "It would be interesting to see what they did if they came back."
Guy and Rambourg haven't yet chosen a home for their new firm; the finalists are London, where both were based at Gartmore, Paris and Geneva, Switzerland. The former's prospects are no doubt linked to Rambourg's winning approved person status from the FSA.
Gartmore, inundated with redemptions and further exits following Rambourg's suspension, eventually sold itself to Henderson Global Investors earlier this year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…