HSBC’s hedge fund star leaves

A TOP fund of hedge funds manager at HSBC’s alternative investments unit has left after the firm decided to merge its discretionary and advisory businesses.

Tim Gascoigne, who was global head of portfolio management and who ran the £1.5bn GH fund of hedge funds at HSBC Alternative Investments Limited, left last month, a spokeswoman for the bank said yesterday.

Gasgoine, who joined HSBC in 1996, managed around $4bn. His duties have been taken on by Faraz Sultan, who runs the advisory business.