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Morgan duo are signed by GLG
Nick Goodway10 Jul 2008
London-based hedge fund manager GLG is to bolster its team with two more bid appointments ahead of the departure of its star fund manager, Greg Coffey.
It has recruited Bart Turtelboom and Karim Abdel-Motaal from Morgan Stanley, where both oversaw the investment bank's fixed interest business in emerging markets. Turtelboom left last month.
GLG last week recruited Driss Ben-Brahim from Goldman Sachs, where he was a managing director in proprietary trading, to replace Coffey, who is to set up his own hedge fund. GLG has been working to stop investors withdrawing funds and staff defecting after his departure.
"There's never a bad time to lure top investment bankers from bulge-bracket firms," said Prof Scott Moeller of Cass Business School. "More important in such hirings is whether the house bankers can adapt to the very different culture of the more boutique fund managers."
