SRM Global

Founded by Jon Wood, a former UBS trader, the Monaco-based SRM Global fund opened in 2006 and with a value of $3 billion was one of the start-ups in a record year for European hedge funds. Reports at the time said UBS invested $500 million in the fund.

Mr Wood's record at UBS was impressive: he earned the bank $2.4 billion during his six years there. He was also granted a significant amount of independence at UBS, working from Surrey and later Monaco with his colleagues, rather than at the bank's City headquarters.

The elusive star trader was thrust into an unfavourable spotlight in November 2005, during his controversial £100 million lawsuit - the Gadget Shop case - against two of Britain's leading entrepreneurs, Sir Tom Hunter and Chris Gorman. The judge ruled against Mr Wood, describing him as “evasive” and a “very hard and calculating man”.

Mr Wood followed through his £35 million "up" bet on Northern Rock's prospects in October last year, just weeks after the bank collapsed, building his fund's stake to over 9 per cent and becoming the largest shareholder.

RAB Capital

London-based RAB Capital was founded in 1999 and floated on AIM in 2004. It took more than £50 million (£255.3 million) in Rock shares in the week after the bank's collapse, and is now the second largest shareholder with a stake of 7.79 per cent.

Philip Richards, co-founder of RAB Capital, attacked other hedge funds at the time for reaping £1 billion in profits from Northern Rock as its share price slid during 2007, saying their behaviour had created an "atmosphere of panic".

Mr Richards is one of the City's most successful investors. He founded RAB Capital with Mr Alen-Buckley, a colleague at Smith New Court. RAB Capital's profits hit £50 million in 2006 on sales that more than doubled to £118 million.

RAB Capital and SRM Global lobbied for today's EGM, and with three other unnamed shareholders are supporting a proposal from Luqman Arnold's onvestment firm Olivant, which involves Olivant taking a 15 per cent stake in Northern Rock and bringing in its own management team.

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