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249. Heron House, Ark, Chairman Stanley Fink (With Tories) and Lord Levy (With Labour)

249. Heron House, Ark, Chairman Stanley Fink (With Tories) and Lord Levy (With Labour)

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Heron House, Ark, Chairman Stanley Fink (With Tories) and Lord Levy (With Labour)
Heron House, Ark, Chairman Stanley Fink (With Tories) and Lord Levy (With Labour)

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Published by: John Adam St Gang: Crown Control on Feb 21, 2010
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02/21/2010

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Sunday 21 February 2010 |Banks and Finance feedLog in|Register now
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Stanley Fink plots comeback with Lord Levyin hedge fund venture
By Louise ArmitsteadPublished: 12:01AM BST 14 Sep 2008Stanley Fink, the former boss of Man Group, who became one of the City'sbest-known financiers, is teaming up with Lord "Cashpoint" Levy to make aspectacular comeback to the hedge fund industry he quit last year.Known as the "Godfather" of British hedge funds, Fink is to become chiefexecutive of International Standard Asset Management (ISAM), a small London-based commodities trader. Lord Levy, the former Labour treasurer who wasTony Blair's special envoy to the Middle East, is to be chairman of the group.It will be Levy's first high-profile role since beingembroiled in Labour's cash-for-honours' scandal twoyears ago.The pair plan to build ISAM, which currently has twofunds trading in gold and fixed income, into asubstantial player in the hedge fund world.The return of Fink will be a major talking point in theCity.By the time he relinquished his role as chief executive, he had transformed Manfrom humble beginnings into a FTSE100 company and the world's biggestlisted-hedge fund group with $80bn under management.Fink told The Sunday Telegraph: "My role will be to systemize processes anddevelop the management and marketing structure of the business to maximizethe potential for growth in assets under management."I greatly enjoyed my 21-year career at Man Group and in particular growingMan's alternative investment assets under management from less than $1bnwhen I joined in 1996 to more than $80bn under management [in] June 2008."Fink, who was one of Britain's best paid FTSE directors, said last year he wasstanding down to pursue other commercial and philanthropic interests.Fink said: "I have a very high regard for Michael Levy, whom I have know for anumber of years, and I am confident that the combined skills of the enhancedmanagement team will help us to grow the business."ISAM was founded in 2003 by Roy Sher, a former gold trader at Merrill Lynch.He was joined in 2007 by Alan Amler, a South African-born futures trader.The business has performed strongly since its inception, with its Gold Fundreturning an average of 17 per cent annually over the past four years.ISAM's Macro Fund returned 16 per cent in its first year of trading.Born in Manchester, Fink's first job was as a trainee accountant with ArthurAndersen. After stints at Mars and Citibank's leveraged buy-out unit, he joinedthe commodity trading company that became Man in 1987.
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