Vienna-based HVB Alternatives has hired Kristina McDonough to head up the expansion of its sales and marketing campaign in the US market.
Rudolf Nemetschke, Member of the board of HVB Alternatives, said this appointment represents a further strategic hire in HVB's effort to establish a US-based alternative investment team and expand its market from Europe into the U.S.
Over the past year, HVB has hired Jeff Landle, (previously responsible for Marketable Alternatives at Commonfund) as CIO and head of U.S.-based HVB Alternative Advisors, Inc..
The US Group's investment team consists of 9 professionals (including several former senior analysts from Commonfund). The HVB Alternatives team will provide both traditional fund of hedge funds management, as well as active participation in the creation of new alternative products aimed both at the institutional and high net worth markets
HVB also said that plans to launch a London-based investment office are set for the end of the first quarter of 2003.
Ms. McDonough was formerly Vice President and Marketing/Client Portfolio Manager of Credit Suisse Asset Management's US$5 billion fund of hedge funds group
Prior to joining Credit Suisse in 2000, she served for seven years as Vice President of Marketing and Product Development at a large US hedge fund.
Mr Nemetschke said: "Ms. McDonough brings over 16 years of hedge fund marketing and financial services experience to her new role, and is a significant addition to the team. Her appointment represents our commitment to the alternative business and to growing the US market"
Background Note: Headquartered in Vienna, HVB's Alternatives, currently manages approximately US$1.5 billion of alternative assets, with over 44 professionals based in the US and in Europe.