Soros Fund Management has appointed Robert Bishop, a principal at Maverick Capital, as chief investment officer to the $11.5bn (€13.3bn) hedge fund.

Bishop, who has 16 years' investment management experience, will be responsible for the internal long/short equity portfolio. He will step into a role left empty when Stanley Druckenmiller left Soros in April 2000. Bishop will also be responsible for building a team to support the effort.