Philippe Jabre, the hedge fund manager taking the UK Financial Services Authority to court over a £750,000 (€1.1m) fine, has established a new firm, Ballena Capital.

Jabre became the first director of Ballena last month, according to documents filed at Companies House in the UK. He is the firm's sole director. It is his first directorship since he resigned as a director of GLG Partners, a $13bn (€10.3bn) London hedge fund manager earlier this year.