Thu, 21/02/2008 - 06:00
Fund of hedge funds manager Tremont Capital Management has announced the recruitment of Susan Crotty from Callan Associates to become managing director for investment management services.
Crotty, who will report to executive vice-president and global head of sales Robert Stone, will work both with the sales and marketing team and the investment management group at Tremont to help design solutions for clients. Her role will include working on specialty mandates and customised approaches that have become of increasing importance to institutional investors.
'Sue's extensive experience consulting to a wide variety of institutions on fund of hedge funds investing, her understanding of what investors are seeking to accomplish with their alternatives strategy, and her knowledge of our industry delivers tremendous benefits to our clients,' says Tremont president and chief executive Rupert Allan.
Crotty, who was a senior vice-president and alternatives practice leader at Callan, was previously a managing director at Ark Asset Management and a senior consultant at Hamilton & Company, and is also a member of the investment committee for the State of New Jersey Pension System. 'Tremont is known for its leadership role in the industry and is strategically poised to deliver what the institutional marketplace needs and wants today,' she says.
Last October, Tremont hired Stone to direct the global sales effort. He was formerly a managing director and head of institutional global sales at New York Life Investment Management, where he created the institutional sales organisation and boosted asset growth through a variety of channels.
The firm also appointed Mark Santero as chief operating officer responsible for the firm's operations in North America, Europe and Asia. Santero came from a similar role at Ivy Asset Management, following spells with Amvescap and US Trust.
Crotty will work closely with Tremont's 22-strong investment management group, led by executive vice-president and chief investment officer Cynthia Nicoll. The group continues to add further resources, with a number of new hires planned for the coming months.
Tremont says the series of senior appointments is part of a growth and development strategy put in place last year when Allan, then the firm's president, added the role of chief executive. 'We set out to scale our operations as we grow fund of hedge funds assets, expand our global footprint and deliver excellence in investment management,' he says. 'We have taken steps to ensure that we have the right senior team in place to achieve those goals.'
Established in 1984 and based in Rye, New York, with offices in London, Toronto and Hong Kong, Tremont Group specialises in the management of fund of hedge fund investment products and multi-manager portfolios. Tremont is a subsidiary of OppenheimerFunds, one of the largest asset management companies in the US.
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