Gartmore Stars Hire Goldman Executive

Jul 14 2011 | 2:31am ET

Gartmore Group's former star managers have made a first hire for their planned new hedge fund.

Roger Guy and Guillaume Rambourg's still-unnamed firm has named Karim Moussalem to a senior investment role, Financial News reports. Moussalem joins from Goldman Sachs, where he spent almost 10 years and was head of cash trading.

Moussalem is the first of roughly 20 expected hires by the firm, set up earlier this year. Guy and Rambourg are still awaiting regulatory approval before finalizing plans for its name, management structure and location. But Paris will likely be its headquarters, FN reports, beating out London and Geneva, Switzerland. The firm's maiden fund is expected to launch next year.

Rambourg was cleared earlier this year by the U.K.'s Financial Services Authority over allegedly directing trades to favored brokers. Gartmore suspended him last year, beginning a downward spiral that concluded with the firm's sale to Henderson Global Investors earlier this year.

Guy retired from Gartmore in November.

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