John Hyman, the former Morgan Stanley capital markets veteran who joined Cheyne Capital Management in late 2010 only to return to investment banking, has rejoined the $7 billion UK hedge fund manager to run its equities business.

Hyman, who was one of Morgan Stanley's most senior bankers in London, spent 17 years at the US bank, where his roles included running equity capital markets and global capital markets, before leaving in early 2010.