GLG Partners has announced that Galia Velimukhametova is to join its London office as a portfolio manager, working alongside Steve Roth, portfolio manager for the GLG Credit Fund and Market Neutral Fund.
Velimukhametova, who will focus on distressed situations, joins GLG from King Street Capital, where she was a managing director and member of the European investment committee, responsible for investment selection and portfolio composition in addition to launching the European office of the USD15bn multistrategy hedge fund manager.
She previously spent nearly seven years at JP Morgan, latterly as a debt equity and capital structure arbitrage trader responsible for managing a proprietary trading book and analysing and investing in distressed situations.
Velimukhametova, who gained experience at JP Morgan in restructuring financial distressed credit, previously held positions in the emerging markets groups at Baring Asset Management and Rothschild Asset Management.
'We are delighted to have Galia join us,' says GLG co-chief executive Emmanuel Roman. 'Her expertise in distressed debt and special situations adds to the depth of the credit team and should prove helpful as we opportunistically deploy capital over the next 18 months.'
Launched in 1995, GLG aims to focus on preserving clients' capital and achieving consistent, superior absolute returns with low volatility and low correlation to equity and fixed income markets.
At the end of March the firm managed assets exceeding USD24bn, including more than USD850m in credit strategies that aim to generate absolute returns from long and short investments in global credit markets, and a further USD1.8bn in various arbitrage strategies that account for the lion's share of the GLG Market Neutral Fund's asset allocation.