Trailblazer Fink returns to head £200m hedge fund

Stanley Fink, the so-called godfather of UK hedge funds, has made a dramatic return to the industry after retiring from Man Group, the largest alternatives manager in the world, only two months ago.

Mr Fink confirmed yesterday that he had been appointed chief executive of International Standard Asset Management, an alternative asset manager with about £200m under management. The fund also announced the appointment of the former Labour Party fundraiser Lord Levy as chairman.

The London-based trading group said Mr Fink will assume responsibility for the operational management of the business to build a significant hedge fund presence, while both will use their extensive network of wealthy contacts to boost the fund's assets under management.

International Standard Fund was set up by the former Merrill Lynch gold trader Roy Sher, a friend of Mr Fink, in 2003, and is mainly backed by private investors. Mr Sher said the big-name appointments should help the firm to win market mandates ahead of its hedge fund rivals.

Mr Fink said: "I am delighted to be able to bring my experience to bear on the fortunes of International Standard Asset Management. The fundamentals necessary for growth are all in place, with the strong performance of both funds giving us an established base from which to develop the business."

Mr Fink officially retired from Man Group in July after 21 years. He oversaw the development of the small hedge fund subsidiary of a commodities broker into the largest listed hedge fund in the world. The assets under management grew from less than $1bn when he became managing director in 1996 to over $80bn this June.

He stepped down as chief executive in March last year, but remained on the board as deputy chairman until the annual general meeting two months ago.