Rambourg Plans London Office

Dec 13 2013 | 12:11pm ET

Three years after losing his U.K. trading license over allegations that he improperly directed trades to favored brokers, former Gartmore Group star trader Guillaume Rambourg is returning to London.

Rambourg's two-year-old Verrazzano Capital will open an office in the British capital next year, Financial News reports. The US$625 million firm is based in Paris.

"It makes sense for us to be closer to the investor base and not miss out on investor traffic," Rambourg said of the planned base in Europe's hedge-fund center. "Two or three" Verrazzano employees are expected to move to London—although Rambourg is staying put, for now.

"I might come back eventually, but it's not my immediate plan," he told FN.

Rambourg was cleared of any wrongdoing by British regulators in early 2011, but the damage had been done: He and his longtime partner, Roger Guy, left Gartmore after Rambourg's suspension, beginning a downward spiral for the firm that led to its sale to Henderson Global Investors last year.

Verrazzano's flagship European Opportunities Fund is up 11.3% this year, while its European Focus Fund has returned 17%.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.