2006 SRM Global SRM Global, a Monaco-based start-up, was the largest European fund launch of 2006. Founder Jon Wood, a former proprietary trader at UBS, raised $3bn for the strategy, which investors expected to take large equity positions in companies involved in mergers, financial restructurings and other corporate actions.

Wood left London in 2006 with five members of UBS's strategic risk management team to set up his firm. UBS invested $500m in the fund and acted as its sole prime broker.