Paul Casey, the ex-chief investment officer for convertible bonds and fixed income at CQS, has returned to the finance sector four-and-a-half years after leaving the $12 billion-plus multi-strategy hedge fund manager, where he was part of Sir Michael Hintze’s senior team.

Casey, who worked at CQS from 2000 to the end of 2009, has re-emerged as a partner at Palmerston Capital Management, a long/short credit hedge fund launched at the start of this year by Stuart Wain, former head of European credit trading at JP Morgan.