Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

GLG hires Rory Powe for European fund launch

GLG hires Rory Powe for European fund launch

GLG has hired Invesco's former head of European equities Rory Powe and is planning a launch for the manager.

The news comes 13 years after Powe left Invesco Perpetual to set up his own hedge firm, Powe Capital Management (PCM).

GLG is set to launch a focused European equity long-only strategy for Powe He will also continue to manage the PCM Europe Fund, launched in July 2009, with GLG taking over the management contract from PCM. The PCM Europe Fund has returned 73.2% since inception against a FTSE World (Europe) return of 60.2%.

Powe was viewed as one of the star fund managers at Invesco, and ran the Invesco Perpetual European Growth fund for a decade when he left in 2001.

'Rory has an outstanding track record of generating alpha in European equities and he will be a great addition to our investment team as we continue to build out our long-only platform. Rory will manage assets with the same philosophy and methodology he did at PCM but with the benefit of GLG’s resources, strength, infrastructure and talent. We are excited to welcome him to the business,' Teun Johnston, Co-CEO of GLG, said.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter