Harcourt Investment Consulting AG has announced the promotion of chief risk officer Frederic Berney to Managing Partner with effect from 1 March 2006.
Berney joins Harcourt's Management Team with responsibility for risk management and the overall IT-department.
Berney, who graduated from the University of Lausanne, Switzerland, with a MSc in Finance in 1994, began his career at Credit Suisse in Zurich in 1995 joining the independent market risk group before becoming market risk manager for the Swiss CSFB Equities Derivatives division. In 1999 he joined ex- colleagues of CSFB at Sanwa International in London, the international investment-banking subsidiary of Sanwa Bank Limited, to set up the independent risk management function.
In 2001 Berney was promoted to the position of a senior vice president with responsibility for the risk measurement team. He joined Harcourt in 2003 as chief risk officer bringing extensive experience in designing and implementing in house risk management solutions.
'Having worked with Frederic very closely for several years, we are convinced to have found an excellent partner who will help to enhance the overall strengths of the company,' says Peter Fanconi, Managing Partner, Harcourt Investment Consulting AG. 'We are convinced that he will continue to make significant contributions to all strategic aspects of the risk management team and the further development of Harcourt's IT-department. With Frederic as a new member of the Management Team Harcourt strengthens its managing capabilities in order to accomplish the company's continuous growth.'
Backgroun notes: Harcourt AG is one of the globally leading providers of hedge fund solutions for institutional investors. Founded in 1997, the company is located in Zurich with branches in New York, Geneva, Stockholm, Madrid and Hong Kong (as of Q2/2006). Harcourt currently manages more than USD 3.4 billion with a staff of over 60. Harcourt is exclusively focused on hedge funds and has an excellent track record of superior risk adjusted returns. Clients include the City of Zurich Pension Fund, Novartis, Barclay's and Sumitomo Mitsui Asset Management.
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