Polar hires convertibles team

Polar Capital has hired a global convertibles team after assets under management rose 21% over the second and third quarters.

David Keetley, Steve McCormick and Kendrick Li join from Vicis Capital and are expected to launch a Polar ALVA Global Convertibles hedge fund on November 1.

The team will hold more than 50 diversified global convertible positions. (article continues below)

Vicis was best known for its volatility trading. It suspended redemptions in September 2009 after losses of 12%, according to Bloomberg.