31/03/2010
Mag Consultancy, the London-based managed account advisory business, is to open an office in the US in response to client demand.
The firm, which launched in early 2009, will set up the new office in New York in early May. The office will be run by a team of two, with plans to expand in the near future.
HFMWeek can also reveal that Richard Day, managing director of Mag, is leaving the firm to join one of its clients, Hightower Partners, as head of managed account platforms. Hightower, a hedge fund marketing firm, was established in 2009 and offers a variety of structures including Ucits, Qifs and managed accounts.
“We wish Richard the very best of luck in his new role and look forward to working with him and Hightower Partners in the future,” said John Godden, co-founder and managing partner of Mag.
Day has been managing director of Mag since the firm launched last year, prior to which he held the role of vice president at Morgan Stanley.
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