Jim Xiong has rejoined QFS Asset Management as co-chief investment officer.
Xiong and Jim Conklin, QFS's other co-CIO and director of research, will collaborate with the firm's founder, Sanford Grossman, in pursuing new research and managing the existing investment programs. Xiong will also join the QFS Investment Committee.
Xiong was an employee and partner of QFS for almost 14 years until he left in mid-2011 to take a sabbatical from the industry.
Prior to joining QFS in 1997, Xiong developed financial applications for Salomon Brothers and was a management scientist at General Electric's Center for Research and Development. Prior to that, he was a team leader at CAE Electronics (in Canada), responsible for developing energy management systems.
Karlheinz Muhr, chief executive of QFS, says: "I am delighted that Jim has decided to return to QFS. During his first 14 years at the firm, Jim played a key role in growing QFS and in contributing to its world-class research process."
QFS has also appointed David L. Zimmerman, the firm's general counsel, as chief operating officer, and Dan Bender as chief financial officer. The pair will assume the responsibilities of Robert Shustak, who is retiring from the firm at the end of August. Shustak will remain a director of certain QFS funds, and will serve as a consultant to the firm for a period following his departure.
Zimmerman is a partner in the firm and has been general counsel of QFS since February 2006. He began his career at Davis Polk & Wardwell, and was later general counsel of LiveWire Capital, a private equity investment and management group focused on the technology sector, and chief compliance officer of Chilton Investment Company, a hedge fund manager.
Bender joined QFS in May 2012 as the firm's managing director of accounting and finance. Prior to joining QFS, Bender served as the chief financial officer of Ramsey Asset Management, a long/short equity hedge fund manager in the Washington, D.C. area. Before Ramsey, Bender served as treasurer and financial advisor for Octagon Financial Services, a leading wealth advisory firm catering to professional athletes, artists and entertainers.