LONDON (HedgeWorld.com)?Gartmore Investment Management plc hired John Mattimore for the newly created position of head of hedge fund risk management.
Mr. Mattimore previously was director, financial institutions solutions for Cable & Wireless? financial system risk division. Before that he was co-founder of the hedge fund BBS Investments, according to a statement from Gartmore.
Gartmore Investment Management has seen its hedge fund assets grow to US$3.4 billion in four years, and Mr. Mattimore?s hiring is part of a company-wide effort to strengthen its risk management capabilities. Gartmore Investment Management is the U.K. investment unit of Gartmore Group, which in turn is owned by the U.S. insurance company Nationwide.
The firm recently entered a venture with Aspect Capital Ltd., London, to build and distribute investments based on Aspect?s momentum-based futures strategies .
Gartmore Group managed ?44.6 billion (US$74.2 billion) in total as of June 30.