Rambourg makes first hire for hedge fund venture

Former Gartmore manager Guillaume Rambourg has hired Goldman Sachs’ Karim Moussalem to work with him on his new hedge fund venture, according to Financial News.

In the first of an anticipated 20 hires for the Paris-based hedge fund, Moussalem has been hired in a 'senior investment role'.

Investors have been eagerly awaiting Rambourg's next move, which is likely to involve his former partner at Gartmore, Roger Guy, whom he ran the AlphaGen Capella fund with, a European long/short equities fund.

The new fund is expected to mirror the AlphaGen's format and will be launched in 2012.

Moussalem has been a managing director and head of cash trading at Goldman Sachs for nearly a decade.

Rambourg was suspended from Gartmore amid claims of breaching internal procedures last year, but was later cleared of any charges.

His resignation in April 2010 triggered a 10% share fall in Gartmore's value. Seven months later, Guy resigned and the company's shares dropped a further 14% as a result.

Rambourg's venture is still pending regulatory approval, but Financial News report it is likely to be based in Paris with a team of roughly 20 people at launch, including operations staff.

Rambourg recently set up a charity foundation with his wife, seeded by his entire stake in Henderson, valued at around £10m.

Henderson Global Investors bought out Gartmore in January for £335m.