Liberty Ermitage, a hedge fund group, has hired Andrew Whelan and Matthew Gambles to run the rapidly expanding Jersey-based global wealth management services business.

Whelan joins as group executive from Kleinwort Benson Investment Management, part of the Dresdner Private Banking Group. He was a director in charge of the Channel Islands' portfolio management team, which had funds of $1.7bn (€1.9bn) under management. Gambles joins as senior investment manager from Deutsche Bank Offshore. Liberty Ermitage has more than $2.1bn under management and operations in Jersey, London, Luxembourg and Bermuda.