Mathewson to Become Chairman of Hedge Fund
Parkinson, Gary, The Independent (London, England)
Sir George Mathewson, the former chief executive and chairman of the Royal Bank of Scotland, was yesterday named chairman of Tosca- fund Holdings, a hedge fund.
Sir George is responsible for overseeing and guiding the growth of Toscafund, which manages $4bn (pounds 2.1bn) for City institutions and the very rich.
Martin Hughes, the former Credit Lyonnais Laing banking analyst who set up Toscafund in 2000, said: "Sir George has enormous experience of the workings of the world's financial markets and I have no doubt that his insight and advice will be tremendously valuable to us as we develop."
Sir George's pay for the part-time role was not disclosed.
Hedge funds, unlike traditional investment funds, are able to deploy a wider range of investment strategies across a broader range of markets and financial instruments in the search for better returns.
The number of hedge funds has soared from fewer than 500 managing less than $100bn in 1990 to more than 8,000 today with $1,500bn under management globally.
Toscafund runs a "long/short" equity hedge fund, which invests in stocks that it expects to rise in value and also takes bets on other shares it thinks will fall. …