The trader suspended from GLG amid a Financial Services Authority (FSA) insider dealing probe worked on co-founder Pierre Lagrange's European long/short fund, Investment Week can reveal.
The employee is a junior member of the team running the GLG European Long/Short hedge strategy, and is responsible for a small percentage of the strategies' assets, the group said. In a note to clients, GLG said the employee has been suspended and a senior portfolio manager has taken over the management of his positions. This morning parent company and hedge fund giant Man Group reported its results for the fourth quarter, revealing a trader working for GLG has been arrested by the Metropolitan Police and is being investigated by the FSA. "Man has been informed by the FSA that the ...
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