High-profile fund manager Mr Pramit Ghose has returned to the industry with his appointment as head of investment strategy at Bloxham Stockbrokers.

Mr Ghose will be responsible for developing investment strategies and stock portfolios for high-net-worth clients with more than €250,000 to invest.

He will also work on strengthening Bloxham's pensions business and developing its in-house research.

Mr Ghose had previously been managing director and chief investment officer at Hibernian Investment Managers. In a surprise move, he left his position last November after just 16 months in the job. No explanation for his resignation was given at the time but his departure coincided with an investigation by the Central Bank into an alleged breach of compliance obligations at Hibernian.

The problem is understood to have been connected to the Templar Fund, the only in-house managed hedge fund in the Republic.

Hibernian also undertook an internal disciplinary process but it is understood that this did not involve Mr Ghose.

He declined to comment yesterday on the circumstances surrounding his departure, saying he was bound by a confidentiality agreement. But he pointed out that his appointment by Bloxham required and received Central Bank approval.

Prior to joining Hibernian, Mr Ghose was investment director of Friends First, having joined the group in 1991 to set up its asset management division. One of the best-known fund managers in the Republic, he was voted Moneymate Pension Fund Manager of the Year on three separate occasions, most recently in 1999.

Since last November, Mr Ghose has been travelling but he said he was "very pleased" to be back.