Discover your dream Career
For Recruiters

Equity stakes for fund managers

As fund managers struggle to prevent defections to hedge funds, top staff are increasingly being offered equity stakes in the companies they work for.

Liontrust is setting up a new European fund management joint venture in an attempt to retain four of its star fund managers, Reuters reports. Gary West and James Inglis-Jones are apparently each being offered a 15% stake in the new venture, while two others are being offered 9.5% each.

Liontrust chief operating officer Vinay Abrol, told Reuters the move was down to the lure of the alternative investments sector: "It's a question of how you attract someone when they could just as easily set up a hedge fund somewhere else."

The tactic seems to have worked over at Gartmore, where fund manager Tim Callaghan, who was set to leave the firm to join rival Resolution Asset Management, decided to stay with Gartmore after being made an offer he couldn't refuse. Reuters says that Callaghan was made a partner in the firm, and granted equity in the business.

And in a similar move, Reuters reports that Scottish-based fund firm Martin Currie has set up a new company, which will be half owned by two of its China fund managers, Chris Ruffle and Shifeng Ke.

author-card-avatar
AUTHORAnonymous Insider Comment

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs
Westbury Partners
Software Engineer - Core systems Python C++
Westbury Partners
New York, United States
State Street Corporation
Cloud Platform/Site Reliability Engineer
State Street Corporation
Quincy, United States
State Street Corporation
Senior Application Developer, Assistant Vice President
State Street Corporation
Princeton, United States
State Street Corporation
Staff Cloud Platform Engineer
State Street Corporation
Quincy, United States
Ellwood Consulting
Credit Specialist
Ellwood Consulting
New York, United States
Westbury Partners
Software Engineer - Strategy
Westbury Partners
New York, United States

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.