MAXAM Capital Management LLC has made two key appointments: Richard A Phelan as Chief Financial Officer; and David W Jennings as a Managing Director with responsibility for sales and marketing of the firm's diversified product line.
Phelan's career included sixteen years with Fortune Brands, Inc (formerly American Brands Inc.), where his areas of responsibility included the financing of non-US operations, as well as identifying and managing the company's foreign exchange and interest rate risks.
Prior to this, he was instrumental in coordinating the issuance of domestic and overseas bond financings and also oversaw the administration and investment of the company's qualified and non-qualified benefit trusts. His last position at Fortune Brands was Assistant Treasurer, International.
'We are very happy to have Rich join our senior team,' says Sandra Manzke, founder and CEO of MAXAM. 'His experience in both financial matters and investment management administration will be of great benefit to MAXAM'.
Jennings meanwhile, who as well as his sales and marketing responsibilities will also assume certain senior client service duties at MAXAM, joins the firm from Cobble Creek Management, a Greenwich, Connecticut based long/short single strategy fund, where he held the title of Chief Administrative Officer from 2004 to 2006. Jennings has been directly involved with hedge funds for the past seven years, and has previously held a number of senior management and marketing roles in the investment management business.
'David is an important addition to our senior management team, given his extensive experience and proven record of achievement in helping to develop formative businesses,' says Manzke.
Background note: MAXAM was founded in April 2005 by Manzke, formerly the founder and co-CEO of Tremont Capital Management Inc, where she pioneered the inclusion of hedge fund investing in high net worth and institutional portfolios. MAXAM is covering the entire investment management community, not solely hedge funds, to make informed and knowledgeable decisions in portfolio construction. Currently, MAXAM manages assets in excess of USD 1.5 billion.