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California-based Coast Asset Management, a multi-strategy alternative investment firm, has appointed hedge fund industry veteran Roy H. Callahan as a portfolio manager and member of the firm's investment committee.

Callahan joins Coast from Stratos Advisers, a southern California-based hedge fund of funds manager.

Previously, Callahan worked at Financial Risk Management where his responsibilities included serving on the investment and portfolio management committees as well as training and mentoring FRM investment analyst groups.

He spent six years from 1994 to 2000 at Coast as director of research where he helped Coast founder David Smith develop and launch the firm's initial multi-manager investment strategies.

"We are thrilled that Roy Callahan has agreed to rejoin our team," says Smith. "Roy brings a wealth of knowledge and alternative investments expertise that will be invaluable as we continue to steer Coast through the challenges brought on by the global recession."

"I'm honoured and excited to work with Dave and Coast once again," says Callahan. "The investment landscape offers new and different opportunities than in the past. No one is better suited to take advantage of this new environment than Coast. It feels like coming home for me."

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