Sunday, 29 May 2016
Last updated 1 day ago
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%.