GLG brings in Andrew Thatcher for business development

Hedge fund GLG Partners has brought Andrew Thatcher over from Europe to work in its Hong Kong office to develop its Asian business activities.

An executive director, he will report to Tim Rainsford, managing director of Man Investments in Asia. The plan is for him to work with institutional and high-net-worth investors in addition to family offices and other fund-of-fund managers.

He joined GLG as a principal in 2006 and had the job of developing the firm‘s business in the UK. He came from Citigroup where he was a director and senior banker. Before that he worked for Merrill Lynch in the global wealth management division.

GLG Partners was acquired by Man Investments last year, with combined group AUM of $68.6 billon (as of December 31, 2010), of which about a third is GLG assets. GLG manages a wide spectrum of alternative investment strategies, including equities, convertible bonds, fixed income, macro and currency, and about $3 billion of its assets are in Asian instruments.

As AsianInvestor reported in December 2010, GLG was awarded its Hong Kong trading licence and, at that time, GLG managing director and head of global equity strategies Pierre Lagrange mooted plans to bring in personnel from the US and Europe.