Merger and event arbitrage investment management firm Paulson & Co has appointed Philip Levy as managing director for business development.

The newly created role will see Levy, 42, take on responsibility for strategic business development and asset raising for the firm's event arbitrage strategy. He will report to Dennis Pollack, the firm's chief operating officer.

"We are seeing significant interest in our event driven strategy and Philipp will be integral in helping us reach a diverse, global investor base," said John Paulson, President of Paulson & Co.

Levy joins Paulson & Co from Bear Stearns & Co where he was senior managing director responsible for the day-to-day operations of its capital introduction group. He previously worked in senior sales positions in Switzerland at Swiss Bank Corp, Credit Suisse and Citicorp Investment Bank. Prior to that, he received a National Degree from the School of Economics in Zurich and a BA in Banking Administration from KV Zurich. He holds US Series 17 & 63 registrations and is fluent in English, German, Swiss German, French and Italian.

Background notes: New York-based Paulson & Co. Inc was founded in 1994 by John Paulson and specializes in merger arbitrage, event arbitrage, bankruptcies and related strategies. The firm manages more than USD 3.7 billion for institutional and other investors.