UK – Gartmore has named a former telecoms executive to the new role of head of hedge fund risk management.

Gartmore said John Mattimore would be responsible for all hedge fund and fixed income risk management.

He was formerly director, financial institutions solutions at the Cable & Wireless Financial System Risk Division. Before that he was a co-founder BBS Investments, a private hedge fund. He has also worked at ING Barings, Bear Stearns and Citibank.

Gartmore’s chief investment officer Roger Bartley said: “In growing our hedge fund business to 3.4 billion dollars in just over four years, Gartmore has undoubtedly developed and continues to develop ‘industrial strength’ support procedures alongside a premium risk management framework that is expected in a world-class investment manager."

The appointment was “another major step in the company's strengthening of its risk management proposition across all investment platforms”. It follows the appointment of William Edgar as head of equities risk.

Gartmore Group has a total of 44.6 billion pounds in assets under management.