GLG’s emerging markets team turn adversity into advantage
Thu Oct 21, 2010
Taking over from the high-profile Greg Coffey – and on the day that Lehman folded – was a big test for GLG’s new EM team. But they have rebuilt the business to capture the high returns from EM investing without the heavy losses that can also go with the territory
Bart Turtelboom and Karim Abdel-Motaal, the joint heads of
GLG’s emerging markets business, are no strangers
to crises. Both men have been trading and investing in emerging
markets since the mid-1990s – starting their careers
in a decade marked by the Mexican 'Tequila’
meltdown and the Asian/Russian debt debacles.
Bart Turtelboom and Karim Abdel-Motaal
So they understand better than most that turbulence goes with
the territory. But even those previous baptisms of fire could
not have fully prepared them for what lay in store for them in
September 2008, as they arrived from Morgan Stanley to take
over the GLG emerging markets business in the wake of the
high-profile departure of Greg Coffey and his team.
Not only did they find themselves facing the task of
completely rebuilding and repositioning a once
stellar-performing business at GLG that had gone in months from
$7 billion of assets at its peak...
ISSN: 2151-1845 / CDC10004H
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