GLG, the $11.5bn (€9.6bn) London hedge fund manager, has hired Steve Roth from Deutsche Bank to work as co-manager of two of its flagship funds.

Emmanuel Roman, partner and co-chief executive of GLG, said Roth would work alongside Phillipe Jabre, one of the firm's other partners, on convertible and market neutral funds. The firm was an early participant in the convertible bond arbitrage market while its market neutral fund, at $4bn, is its largest fund.