American Express has hired Jonathan Hulbert to build sales of its funds of hedge funds among European institutional clients from a Swiss base.
Hulbert, who joins Amex as Fund of Hedge Funds Marketing Manager for European institutional clients, is based in Geneva and reports to Sam Perruchoud, Chief Investment Officer of American Express Fund of Hedge Funds.
Perruchoud said: "We are delighted that Jon has joined us and look forward to working with him as he helps us to develop products and build relationships with this important client group."
Hulbert was most recently a Relationship and Marketing Manager for Millennium Global Investments, Ltd., a London-based hedge fund group. From 1996 to 2000, he was Vice President, Institutional Equity Sales for Donaldson, Lufkin & Jenrette, also in London. Prior to that, he held various sales and trading positions in the US and Europe.
American Express's FoHF business has assets under management of approximately USD 1.3 billion, invested in 10 products developed to meet the needs of international and US based investors.
The funds of funds, targeted to non-US markets, are part of the American Express Alternative Investment Fund (AIF), an umbrella structure (SICAV) domiciled in Luxembourg. American Express Bank is the distributor for AIF.
The AIF includes three relative value portfolios, one global equity long/short portfolio and one multi-strategy portfolio with a higher risk/reward profile and a bias toward directional hedge fund styles. The five products were launched at various stages since 2000 and have nearly USD 900 million in total assets under management.
The FoHF business was consolidated in February 2004 into a global platform through the integration of the fund of hedge funds businesses of AEB and American Express Financial Corporation. With operations and research functions in Geneva, Minneapolis, and New York, the platform was created to provide clients with enhanced research, risk management, and investment opportunities.
Founded in 1919, American Express Bank is the international banking subsidiary of American Express Company, operating in 47 countries through five lines of business: private banking, personal financial services, correspondent banking, corporate banking and global trading.