LONDON (Reuters) - Oceanwood Capital Management has promoted Julian Garcia-Woods to the role of chief portfolio advisor in a reshuffle of the $2 billion (£1.5 billion) hedge fund’s leadership, a source with direct knowledge of the matter told Reuters. Set up by Chief Investment Officer Christopher Gate in 2006, Oceanwood’s flagship fund focuses on event-driven investing across the capital structure in European companies, with a second fund focused on financials. Following the decision to appoint Garcia-Woods as number two to Gate, Deputy Chief Investment Officer Luke Lynch decided to leave to set up his own firm, the source said.