Reuters UK – The investment arm of Legal & General said on Monday that it has appointed former hedge fund executive Ian King to revive its European active equity team after staff exits last year.
King will hold the post of head of active European equities from the end of January. He was involved in 2006 in establishing KDR Europe, a European equity hedge fund, L&G said.
His move to Legal & General Investment Management bucks a recent trend of managers at traditional asset management firms moving into the fast-growing hedge fund arena.
Industry commentators say the rush of people to set up or join hedge funds has slowed in the face of disappointing returns on some strategies in recent years.
L&G said King has joined to build up a team of managers in the European active equity group after three managers left the firm by mutual consent last August.
