A pair of prominent hedge funds has opened offices in London.
New York-based Monarch Alternative Capital and Paris' Capital Fund Management have set up shop in the British—and European hedge fund—capital.
Monarch said the move by its European subsidiary would boost its activities on the continent and will facilitate the hedge fund's tapping into opportunities there. The new office will be led by Josiah Rotenberg and Matthew Glowansky, who have moved to London from Israel and New York, respectively. In addition, Chun Won Yi will move from New York to the U.K., and Monarch has hired Diogo Vaz da Silva as a research analyst.
CFM's London base will be staffed by Stéphane Vial, its head of Asia-Pacific and four others; Philippe Jordan, president of the US$6 billion quantitative hedge fund, said it may "later expand our research group with additional hires from British universities."
"London is going to stay the capital of financial trading in Europe," Jordan said. "We want to be close to the markets we trade and the clients we serve."