Man GLG has hired the former manager of the world's largest Iberian equities fund, in a move aimed at broadening its European equities bench.

Firmino Morgado, who was with Fidelity for 12 years and managed its $2.5 billion Iberia fund, left in 2014 to set up a London-based boutique, W4i Investment Funds, with backing from the Spanish banking group Renta4Banco. The firm has offices in London and Madrid.