Mark Krombas, one of the first retail Middle-East and North Africa managers, has left GLG Partners, which has hired Mark Diab as a Mena equity portfolio manager.
Krombas moved across from Société Générale Asset Management (SGAM) UK to GLG as an asset manager after the hedge fund manager acquired the SocGen division last year.
Diab joins from Amwal, a Qatari investment bank, where he was the managing director for the equity asset management division.
SGAM UK launched the Mena fund for Krombas in May 2008 as Middle Eastern and North African equity markets temporarily decoupled from the financial turmoil in the developed world.
A spokesman for GLG has said he is unable to comment on the reasons for Krombas’s departure, which occurred a matter of months ago, or where he would be working after GLG.
The spokesman indicates GLG sees emerging market equities as a key focus following its merger with Man Group, assuming the merger receives the approval of GLG shareholders in October.