Gordon Morrison and John Marsland have joined WMG, the wealth management group founded by Mehmet Dalman, to establish a family of quantitative strategy funds.
Gordon Morrison, a fellow of the Institute of Actuaries, joins WMG as Chief Quantitative Fund Manager. Like Dalman, Morrison was previously with Commerzbank Securities where he was Global Head of the highly Extel-ranked Quantitative research team. Prior to that he was head of equity portfolio trading at UBS Warburg and a member of the financial institutions group at Goldman Sachs.
John Marsland, a CFA, worked very closely with Gordon at Commerzbank Securities and UBS Warburg. Marsland has held senior posts in the investment strategy department at Gartmore and in global strategy and economics at UBS Warburg and Phillips & Drew.
Dalman, CEO of WMG, said: "I am delighted to be working with Gordon and John again. They have many years of experience in quantitative analysis and managed a very successful quant fund incubated at Commerzbank. Their strategies will be a key component of the spectrum for absolute return funds which WMG will in due course offer its clients."
Morrison said: "We are very excited by the prospect of joining WMG. There is an increasing demand for quantitative-based hedge funds and we intend to offer a range of vehicles so that investors can access a range of equity and currency markets. One of the main risks in a new hedge fund operation is that they often start-up with limited resources to develop the business; at WMG we have an ideal business, marketing and infrastructure platform to grow the business and provide value-added opportunities to our investors."
WMG, a wealth management group, was launched last year by Dalman, previously with Commerzbank, to bring together a number of businesses, including fund management and wealth management, but also extending to capital raising and incubation for new funds. WMG intends to serve high net worth individuals, private banks and investment institutions, as they continue to rebalance portfolios and increase their allocations to alternative investments. WMG has devised a scaleable, integrated structure which it intends to roll out across centres in Europe, North America and Asia.
Dalman joined Commerzbank in 1997 as head of Commerzbank Global Equities and was made a member of the board of managing directors in 2001. Before that he was at Deutsche Morgan Grenfell Capital Markets, Tokyo, between 1995 and 1997, as managing director, general manager and head of Japan equities and equity derivatives for Asia Pacific. From 1990 to 1995 he was at Credit Lyonnais Securities, London, as managing director and head of European and Japanese equities.