SGAM U.K. Retail Chief Sticks With GLG

Jun 1 2009 | 9:37am ET

The head of Société Générale Asset Management’s British retail business has chosen to remain with the company, following its acquisition by hedge fund GLG Partners.

Richard Phillips will serve in a similar capacity at London-based, New York-listed GLG, which is seeking to expand its retail footprint. He will work alongside Andrew Thatcher, who has been with GLG since 2006.

In addition to his new role, Thatcher will also remain in charge of GLG’s U.K. hedge fund distribution team.

Phillips and Thatcher plan to expand GLG’s retail fund offerings using several of the firm’s existing—and top-performing—hedge funds, including its U.K. Alpha Select and U.K. Select Equity funds.

GLG completed its purchase of SGAM, Société Générale’s British money management business, in April. SGAM manages some US$8.5 billion; GLG runs more than US$15 billion.

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