Cheyne Capital Appoints Two Partners for Macro Equities Team

Cheyne Capital Management has appointed Paul Ruddleston and Paul Keohane as partners. Alongside former colleague and head portfolio manager Jorge Giampaoli, who joined Cheyne in June, they will be managing the Cheyne Equity Macro Fund employing a liquid, macro-based trading strategy.

London, United Kingdom, August 21, 2009 --( Ruddleston and Keohane join from Morgan Stanley where they worked for a combined 26 years, much of which as managing directors.

The pair have been recruited to broaden the team managing the Cheyne Equity Macro fund, which launched earlier this year under the lead management of their former colleague Jorge Giampaoli. Giampaoli joined Cheyne from Morgan Stanley in June to head up the fund, which follows a short-term, macro-based equity trading strategy.

Ruddleston headed the global market trading strategy unit at Morgan Stanley, working with the firm's principal market risk takers and with key clients across all asset classes. He is credited with calling a host of major market turning points over the years, most recently predicting the exact 666 low point of the S&P 500 this March.

Keohane worked as number two to Ruddleston and brings with him extensive experience in bond trading and fund management from his career in the City.

Chris Goekjian, Cheyne's chief investment officer, says: "We are delighted to have a team with such strong analytical and trading skills on board and look forward to continuing to build the track record of our new equity macro offering."

Cheyne capital
Caroline Villiers