Fauchier Partners Management has appointed Clark Fenton and Dan Higgins as joint chief investment officers. They will retain responsibility for managing the group's research and risk functions, while Christopher Fawcett remains a member of the investment committee and the firm's chief executive, a post he took up in March last year.
Fenton joined Fauchier Partners in 2003 from Morgan Stanley in New York, where he worked on the equity arbitrage desk trading special situations with hedge funds and, within the prime brokerage division, managed hedge fund lending risk.
Higgins joined the firm in 2002 from Merrill Lynch Investment Managers, where he ran UK institutional equity portfolios and was involved in equity research and portfolio construction.
Established in 1994, Fauchier Partners is a specialist fund of hedge funds manager for clients including pension funds, corporations, charities, academic institutions and family offices. The firm, which also advises various listed funds of funds, currently has some USD6.5bn in assets under management.
Fauchier Partners has been 50 per cent owned by BNP Paribas Asset Management since November 2004, when the fund of hedge funds manager was merged with a joint venture between the two groups, BNP Paribas Fauchier Partners.