GEM Established London Operations, Snags ING Exec.

Oct 18 2007 | 12:33pm ET

Emerging markets hedge fund firm GEM Global Equities Management has expanded its operations in London and hired Steve Wallace as business development and client relationship manager for the new office.

Prior to joining the GEM, Wallace served as a client relationship manager at ING in London, where he maintained senior level client relationships. GEM’s expansion comes as its assets under management have more than doubled in the last 12 months to reach US$750 million, according to the firm. 

Anthony Inder Reiden, chairman of GEM Global, said: “We have seen flows into our funds more than double in the last 12 months and we believe that this is evidence that an increasing number of investors are recognizing our depth of experience in identifying deep value situations within emerging markets.”

GEM Global was established in 1993.

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