So says The Independent:

Trader in insider dealing case not coming back, says GLG

By Gary Parkinson
City Editor
The Independent
February 27, 2006

Philippe Jabre, the GLG Partners star trader under investigation for alleged insider dealing, is unlikely to return to the hedge fund manager whether or not he is cleared of any wrongdoing. The founders of GLG - the Israeli-American Noam Gottesman and the Belgian Pierre Lagrange - are telling investors not to count on Mr Jabre's return no matter what the outcome of the Financial Services Authority inquiry.

The City watchdog is examining whether Mr Jabre traded in the Japanese company Sumitomo on inside information gleaned from the Goldman Sachs banker John Rustum. Separately, French financial regulators are looking into Mr Jabre's trading in the French company Alcatel.

The FSA's decision on Mr Jabre is expected soon, while the French are unlikely to arrive at findings for some time. Theirs is the more complex case. Should the FSA find against him, Mr Jabre faces suspension or even an outright ban from trading....

Read the full Indy article here. For more background on the Jabre investigation, click here.

-- MDT

Labels: Financial Services Authority, insider trading, Philippw Jabre