Gabelli Securities, a subsidiary of Gamco Investors, has appointed Joel S Torrance to assist in the firm’s alternative investment fund business.

Gabelli Securities which began managing its first fund, the Gabelli Associates Fund, in February 1985, is approaching USD1bn in assets under management.

Michael Gabelli says: "As we enter a major growth phase in our Alternatives business, we are pleased to have the benefit of Joel's significant knowledge and experience in the hedge fund space. He will be an important addition to our compliance team and will add depth to our risk framework."

Torrance has an extensive background in the alternative space. He spent nearly a decade with Global Asset Management (GAM) (while under UBS ownership) where he assisted in manager selection and the construction of multi-manager products. After a brief stint at CMS Companies (also a fund of fund hedge fund platform), Torrance spent the last six years at two alternative investment entities acquired by Morgan Stanley, including Graystone Research where he was the head of business and operational risk, and Alternative Investment Partners, where he contributed to the broader business risk function.