Year-long plans for management changes at New York based Tremont Group Holdings, an investment manager of fund of hedge fund products, have been put in place as its president Rupert Allan takes on the expanded role of chief executive from June. At the same time Robert Schulman steps aside from the job to become president of the Rye Investment Management, the group single manager division, which accounts for $3.5bn in assets. Allan will also be in charge of the company’s flagship Tremont Capital Management fund of hedge funds operations. He said the goal was to increase the size of Tremont’s current fund of hedge fund assets under management in the next two years. That would also mean further expansion, particularly in Europe and Asia he said.
Royal Bank of Scotland has hired Dresdner Kleinwort’s former global head of credit and equity derivatives Matteo Mazzocchi, who quit last November, to spearhead the growth of its structured and exotic products division, says Financial News. Mazzocchi, who will lead its structured derivatives products group, was one of a series of high profile bankers under the leadership of Stefan Jentzsch to leave Dresdner Kleinwort at the end of last year, according to the online financial news service.
Incoming chief executive of Morley Fund Management, Chris Phillips, has died while walking the pilgrims’ route to Santiago de Compostela in northern Spain. Phillips, 50, who was the former head of Scottish Widows’ investment arm SWIP, was to take over at Morley in the summer. He encountered an unexpected bout of bad weather in the Pyrenees and died of hypothermia.
Alternative asset manager Ptarmigan Capital has taken on Arvind Bajaj, who previously worked at Credit Suisse, as a principal. He will focus on Ptarmigan’s global real estate investments, including private equity real investments in India. The firm recently announced plans to invest in the residential and commercial real estate sector in southern India.
