The former head of Europe at Morgan Stanley Investment Management has emerged as chief executive at one of this year's most hotly-anticipated hedge fund launches, Financial News has learned.

Andrew Mack, who left the US bank in June 2010, is chief executive and chief risk officer at Portman Square Capital, the imminent new hedge fund launch led by Sutesh Sharma, Citigroup's former global head of proprietary trading. The hire reunites Mack and Sharma, who worked together at Morgan Stanley earlier this decade.