When you walk away from US$300 million and the pleadings of some very powerful people, you’ve got a lot of explaining to do. So Greg Coffey, who this week resigned from GLG Partners, has hired a public relations team to do his explaining for him.
Coffey, who last week resigned and then un-resigned from his post as GLG’s top hedge fund manager, rejected the entreaties of bosses Noam Gottesman and Emmanuel Roman to remain with the firm. He is expected to start his own hedge fund when he leaves GLG in October, and told the Daily Telegraph that he hired the flacks because his continuing commitments at GLG leave him to busy to deal with the hubbub his departure has precipitated.
“I’m running a really large portfolio and I’m always trying to act in the best interests of my investors,” he said. “I can’t really spend time on this sort of stuff.”
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