Nick Reid has quit Gartmore after 10 years to join RAB Capital, the hedge fund manager whose market value soared to £144m when it floated in London in March.

Reid has joined RAB Capital to become co-manager of the firm's new long/short Japanese equities fund. He will manage this new fund alongside Robin Cosgrove, who joined RAB Capital from Dresdner Kleinwort Benson in Tokyo in January.