Arcanum Asset Management is launching a discretionary investment management business.
The firm, which specialises in options trading, has received permission to run client money on a discretionary basis under what the FCA terms the 'Variation of Permissions'.
The original business was founded by Paul Gleeson in 1997 with the aim of developing option trading strategies to monetise the volatility in equity indices. The company was then sold in 2006.
Gleeson continued to manage his own money and on behalf of friends and family based on the same strategies and then decided to officially launch Arcanum, which received its authorisation in July 2013. It was set up to allow other professional investors to participate in the Equity Index Option Programme.
Paul Gleeson, principal at Arcanum Asset Management, said: 'We know that there's an appetite among HNWs and some institutional investors for a high performing segment of their investment portfolios and we aim to fulfill that need.'Gleeson works alongside Ben Few Brown, who started his career as a meat trader in London’s Smithfield market. He then worked as a commodity broker and was a full board member of GNI Ltd in the early nineties, moving to MF Global Ltd, which he left in January 2011 to join ADM Investor Services Ltd as head of institutional sales.