• Douglas Shaw, head of derivatives at Gartmore, has announced he will this year to join a hedge fund being established by former Perry Capital manager Christopher Hohn. The new hedge fund firm, Children's Investment Fund Management, will link to a charitable organisation and will start trading in early 2004. Hohn previously ran Perry's $1bn European fund together with Jonathan Bailey and Stephen Coates.

• Ashton Bradbury will hand over responsibilities for managing Old Mutual Asset Management's