London-based Thames River Capital has been licensed by the Dubai Financial Services Authority and plans to expand in the Middle East for its next phase of growth. The hedge fund boutique has hired Nigel Sillitoe as executive officer for the Middle East. He joins from Mellon Global Investments, where he headed up the bank's Dubai office. Thames River chief executive Charlie Porter said: “Being licensed by the DFSA gives us tremendous credibility throughout the region and we look forward to offering institutions, banks and family offices our wide range of investment products, which includes global fixed, global credit, global emerging markets and a wide range of hedge funds.” Joining Mr Sillitoe will be Gloria McLeod, also from Mellon. Established in 1998, Thames River, and its Nevsky Capital affiliate, manage over £6.1 billion ($12.5 billion), with 156 staff including 85 investment professionals and 24 in sales and marketing as at 30 November 2007.