Ferox Capital Management has hired longtime Morgan Stanley big shot Jack Inglis as chief executive officer.

Inglis, who left Morgan Stanley in January, will run the $2 billion convertible arbitrage specialist day-to-day so that founder Jeremy Herrmann can concentrate on his role as chief investment officer.

Inglis will start working at London-based FCM in July.

Inglis, who enjoyed a 15-year career at Morgan Stanley, is an old hand in the convertible bond market. He worked as a convertible bond salesman until 2004, when MS appointed him head of its convertible bond prime brokerage. In 2005, Inglis became co-head of prime brokerage for Morgan Stanley in Europe until he quit in 2007.

Morgan Stanley cited his desire to “spend more time with his family” as the reason for his resignation. The departure came after Stuart Hendel was named global head of prime brokerage.

His new employer, Ferox Capital, is often in the London media spotlight, in part because of Herrmann, a well-known outdoorsman who founded Ferox Capital after becoming a hedge fund star at JP Morgan.

In January, Ferox Capital sued Ernst & Young, claiming its onetime auditor filed its 2004 annual report too soon, exposing it to unwanted media attention. The suit was dropped a month later when E&Y agreed to make a donation to charity.

Herrmann started Ferox Capital in 2000. In 1995, Herrmann won the world fly-fishing championship. He is estimated to be worth around $135 million.