Altima Partners, a $2bn (€1.6bn) London hedge fund spun out of Deutsche Bank, has created a chief executive role and appointed John Webster, formerly a managing partner of investment consultant Greenwich Associates.

The firm is the latest in a series of hedge fund managers to create senior commercial roles. Sir George Mathewson, former chairman of the Royal Bank of Scotland, was this month appointed chairman of Toscafund. David Stewart last year left fund manager Fidelity as president of its European institutional business to become chief executive of Odey Asset Management.