International Asset Management Limited "IAM", one of the oldest specialist fund of hedge funds managers in Europe, has promoted Morten Spenner to CEO. Spenner replaces Albert Fuss who becomes Executive Director of the business, retaining an active involvement in investment management and client relationships.
Spenner joined IAM from Putnam Lovell, and has been at with the firm since 2003, working alongside Fuss in a strategic, planning and advisory role.
As a part of the restructureing, IAM is reshuffling some of its investment team to better utilise their skills. This includes boosting the members of IAM's Portfolio Management and Investment committess.
Specifically, within the Portfolio Management Committe, Paul McCauley, who joined IAM from Goldman Sachs in 2004, is appointed to the Portfolio Management Committee in a newly created function of Portfolio Strategist, formally bridging the sourcing of managers with active portfolio management. His particular focus will be the relative value and non-equity portions of IAM's portfolios.
Within the reseach group, Penny Aitken, who joined IAM from Tisbury Capital Management in 2004, is appointed Head of Research - London and Mark DeAngelis, who joined IAM from K2 Advisors in 2003 to establish the New York research office, is appointed Head of Research - New York. This move further strengthens IAM's day-to-day research capabilities.
Albert Fuss, Executive Director commented:
"Today's announcement reflects our desire to strengthen and enhance our business,' says Fuss. 'Our philosophy at IAM has always been that the client is at the core of what we do and we recognise evolving client requirements in risk and portfolio management. Our aim is to keep our clients' interests at the forefront as we grow and Morten is the person to steer IAM into its next stage."
Commenting on his new role, Spenner says: "IAM's success over the past 18 years can be attributed to a dedication in delivering investment performance and a clear commitment to client relations. Albert, the IAM team and I continue to work closely together to build on this success."