Fund of hedge funds manager Tremont Capital Management has appointed as chief investment officer Scott R. Metchick, who previously held the same position at two other fund of funds managers, EIM, the USD13bn Swiss-based firm headed by Arpad Busson, and Twin Lights in Boston.

'Investment excellence is core to our strategy of establishing a scalable, institutional standard multi-manager fund of funds business,' says Tremont president and chief executive Rupert Allan.

'Scott's appointment represents the execution of the final phase of this strategy by capping a series of senior hires which, together with our existing expertise in the investment management group, completes the leadership team at Tremont.'

Metchick earlier spent 10 years at Evaluation Associates Capital Markets, an affiliate of consulting group Evaluation Associates and now part of Bank of New York Mellon, where he developed the analytical tools and due diligence best practices for the launch of its hedge fund program.

'The role of the fund of hedge funds is even more important for investors in today's market, which makes Tremont's over 20 years of experience and dedication to excellence critical factors in delivering the products and performance that our clients need and deserve,' Metchick says.

Metchick's recruitment to replace Cynthia Nicoll, who left Tremont for personal reasons, is the latest in a series of senior appointments in Tremont's investment team including Andrew Kaneb, former head of global equities at Lighthouse Partners, and Jim Purnell, who came from the structured product group at Dresdner Bank to lead Tremont's risk management group.

Says Allan: 'Now more than ever, clients want to know that they are working with an investment manager that has the experience, the infrastructure and the ability to deliver on a mandate in various market conditions with the products and solutions they need. We now have the team in place to do just that.'

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 funds products and multi-manager portfolios. Tremont is a subsidiary of US asset manager OppenheimerFunds.


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