Lugman Arnold, former CEO of Abbey, has hired seven senior staff members in preparation to launch a hedge fund, according to the Financial News.
The firm will target investments in the financial services sector, and is expected to raise 750 million for the fund. It will invest in listed and unlisted companies in Europe, the Middle East and Asia.
Arnold has teamed with Alan Morgan, former executive of consultancy at McKinsey and Kirk Stephenson, former managing director at law firm Freshfields Bruckhaus Deringer to create the firm named Olivant.
Arnold’s new hires includes new partners Brian Kearns, former co-head of distressed debt at Dresdner Kleinwort and Peter Strafford, former financial services investment banker from UBS.
Edward Bang, was appointed head of the fund’s Asian operations and Jean-Louis Le Mee also joined the Asia office. Both are former employees of York Capital Management in Singapore.
Terry Watkins, founding member and head of investor relations at Elgin Capital, was appointed head of investor relations.