Coremont, the operational support platform for investment managers that spun out of Brevan Howard in 2018, has hired Chaim Hack as its new head of business development.
Coremont, the operational support platform for investment managers that spun out of Brevan Howard in 2018, has hired Chaim Hack as its new head of business development.
Hack joined Coremont’s London office this month from Enfusion Systems where he spent ten years, most recently as director of EMEA business development.
He has 15 years’ experience across buy-side, sell-side and fintech, including various roles within JP Morgan’s hedge fund and derivative service departments.
At Coremont, Hack will focus on growing business with systematic, credit and global macro hedge fund managers, and also crypto investment managers, as the firm looks to tap into the increasing interest and activity in digital assets. He will work closely with Coremont CCO Michelle Bedwin.
A survey for Hedgeweek’s recent Institutionalising Digital Assets report found that 31% of hedge fund managers planned to launch a digital assets fund in 2022, with regulation the biggest obstacle.
The report also noted that interest in cryptocurrencies from institutional investors was building, in part due to new products and advancements from service providers.
Speaking to Hedgeweek, Hack said Coremont Digital was “filling the gap” left by a lack of order, execution, and portfolio management systems for crypto-focused investments.
The firm provides services for hedge funds, family offices and institutional asset managers.
“With equities taking such a big hit recently, we expect pension funds and other institutions to continue showing an interest in alternative investment strategies,” he said.
“Many do not have the internal expertise in this area and will require external support.”
Hack has been in London since 2013, when he relocated from New York to establish Enfusion’s first international office.
Coremont was established in early 2018, a spin out of the middle and back-office function of Brevan Howard, one of Europe’s largest hedge fund managers.
Coremont has offices in the UK, US and Hong Kong and now supports over $50 billion in AuM. In February, it launched a UCITS platform, Coremont Investment Fund, in collaboration with Carne Group.
