Lehman Brothers has appointed Jolyne Caruso as managing director of its global absolute return strategies business.


Caruso, who will report to Theodore Janulis, global head of the investment management division, will also join the Lehman Brothers management committee and the IMD steering committee. She will oversee Lehman Brothers' Global absolute return strategies platform, which offers a wide range of hedge fund products to institutions and qualified individual clients, including proprietary single- manager funds, proprietary multiple-manager funds of funds and third-party single-manager funds. The single-manager funds cover a wide array of investment strategies across long/short equity, relative value, event driven and directional trading styles.


"We are thrilled to have Jolyne on our team," said Janulis. "She is tremendously talented and a truly outstanding professional. Her remarkable track record and experience in building and managing complex businesses will be invaluable as we more broadly build out our asset management business."


Caruso brings over 20 years of US and international financial services experience to Lehman Brothers. Most recently she was president and a founder of Andor Capital Management, which became one of the largest hedge fund platforms. Between 1992 and 2001, Caruso was at JP Morgan where she was head of Equities-Americas and chairman and president of JP Morgan Securities. And Prior to that, she was a managing director at Bear Stearns in its equities Division.


Caruso is on the board of trustees of Barnard College, Columbia University where she received a BA with distinction and she is also a member of the college's executive committee, the compensation committee and is chair of its development committee. She has also served on the board of Ronald McDonald House, is an "Angel" in the 100 Women in Hedge Funds and previously served on the board of directors of the Securities Industry Association.


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