Philippe Jabre, one of the four managing directors of GLG Partners, has taken leave of absence amid a regulatory investigation into his acti...

Philippe Jabre, one of the four managing directors of GLG Partners, has taken leave of absence amid a regulatory investigation into his activities, according to a report in the Wall Street Journal Europe. European regulators are examining whether Mr Jabre improperly used non-public information on convertible-bond deals to trade on behalf of the hedge fund, according to the report. The Financial Services Authority, the UK regulator, is due to have a meeting with Mr Jabre this week, according to the report. Founded in 1995 as a division of Lehman Brothers, management of GLG bought the company out in 2005. Its other three directors are Noam Gottesman, Pierre Lagrange and Emmanuel Roman. Each of the four directors owns 20 per cent of the company and Lehman Brothers has a 15 per cent stake. Mr Gottesman was estimated by The Sunday Times Rich List 2005 as being worth around £200 million ($352.4 million). GLG Partners currently manages about $11.5 billion, making it the biggest hedge fund in Europe.