Moore Capital beefs up European staff levels

A hedge fund source said Moore Capital had hired "dozens" of staff for its European operation in London's Mayfair. A source familiar with Moore Capital's recruitment plans in New York said the firm was beefing up across the board. He said: "Moore Capital has hired a number of portfolio managers, as well research, operational and executions professionals."

The source would not name any of the new recruits, but said the company planned to make further hires over the coming months. A spokesman for Moore Capital in New York declined to comment.

The flurry of appointments is understood to have started last month with the recruitment of Matthew Wickens from ABN Amro, where he was an economist for seven years.

Moore Capital, based in New York, has more than $9bn (€7.4bn) in global funds under management. Bacon was ranked the City of London's third wealthiest individual in a recent Sunday Times rich list, with a personal fortune of about 300m (€450m).

The $4.1bn Moore Global Investment fund was down 1.1% to June 9, according to an investor. In March, Moore Capital's US operation returned $450m from the Moore Global fixed-income fund to investors, marking the first time it had returned funds in its 10-year history.