Coffey's exit from GLG isn't just about the money


By Neil Wilson

In European hedge fund circles, a big talking point recently has been the decision of Greg Coffey - one of the industry's star performers of the past two years - to resign suddenly from GLG Partners, the London-based and New York stock exchange-listed hedge fund group.

The move appeared to take quite a lot of people by surprise, including not least GLG co-founder and co-CEO Noam Gottesman, who frankly admitted during a conference call with investors: "It never occurred to me that a few hundred million dollars would be an insufficient sum to retain someone."

Remarkably, though, it