GMO nabs EM specialist to replace retiring Estes

Boston-headquartered fund manager GMO has hired an emerging markets fund management veteran from Oppenheimer & Co, to replace George Estes, who is understood to be retiring at the end of March. Carl Ross, managing director for investments at Oppenheimer is understood to start at GMO next month as a senior debt analyst. Ross had been at Oppenheimer since 2008. Before that, he was head of research at Bear Sterns. Oppenheimer manages $112bn of assets, of which $12bn are in fixed income.