Fink Quits Retirement For US$350M Hedge Fund

Sep 15 2008 | 8:52am ET

It seems that retirement does not suit Stanley Fink.

The former Man Group CEO—who stepped down as deputy chairman of the firm in July after 21 years with the company, ostensibly to begin a philanthropic retirement—has joined International Standard Asset Management as CEO. He took the helm of the million London hedge fund earlier this month.

ISAM was founded five years ago by Roy Sher, manages about £200 million (US$358.9 million), a far cry from the US$80 billion or so overseen by Man. But the smaller size of ISAM is apparently what appealed to the 50-year-old Fink.

“When I took the time to look back over my career at Man, I decided that guiding it through its early stages was the most satisfying part of the job,” Fink told the Financial Times.

London-based ISAM runs a gold fund and a macro fund, both of which have enjoyed double-digit returns. Fink reportedly has set a goal of increasing the gold fund’s assets tenfold within five years.

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