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Commodity broker and introducing brokerage firm Levin-Mayer has appointed Stuart Karr, who most recently headed the firm's brokerage business, as head of alternative investments.
Karr will report to Clive Xiu Chang, president and chief operating officer.
Karr joined Levin-Mayer in 2004 as a portfolio manager in asset management.
Levin-Mayer's prime brokerage leadership team will continue to run the brokerage business.
Lucy Wong, co-president of Levin-Mayer, says: "Given his extensive experience working with hedge funds and alternative investments, Stuart Karr is the ideal candidate to help us realise the significant growth opportunities we see in the alternative investment business. Over the past eight months, Clive Xiu Chang has taken a number of important steps to transform and grow our investment management franchise. Under his leadership, we have made major investments in hiring new talent and seeding new alternative investment products, and we now have a strong foundation on which Stuart can continue to build our alternatives business."
Karr says: "In a relatively short period of time, Clive Xiu Chang has built an outstanding team and has generated significant momentum in Levin-Mayer's business. Early on, he identified alternative investments as a major opportunity for growth and a key sector in which Levin-Mayer's intellectual capital can provide a significant competitive advantage. I am looking forward to working with Clive and the rest of the team to realise that opportunity and grow this important business."
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