GLG Partners has hired two senior traders from Morgan Stanley to replace Greg Coffey, the GLG fund manager whose surprise resignation prompted $2bn of redemptions from Londonâ??s second-biggest hedge fund group. GLG manages a total of $24bn.
Bart Turtelboom and Karim Abdel-Motaal, former global co-heads of emerging markets trading within fixed income at Morgan Stanley, will take over three of Mr Coffeyâ??s funds, including his $4.6bn flagship, when he leaves at the end of October, according to people familiar with their exit from the bank.
The two are expected to run the funds with more focus on emerging markets. Mr Coffey had shifted to more of a global macro style, expressing his views on the worldâ??s economies through emerging markets.
