Capital Management Advisors (CMA), the Luxembourg-based fund of funds group, has established a research subsidiary in New York. Capital Management Advisors (CMA), the Luxembourg-based fund of funds group, has established a research subsidiary in New York. Capital Management Advisors North America, Inc. (CMA North America) will focus on identifying and performing due diligence on US based hedge fund managers for the CMA Group. Matias Ringel, a former Salomon Brothers investment banker has been appointed as Director of Research. CMA North America initially intends to service exclusively the CMA Group and will not be providing services to US investors. Angelos Metaxa, co-founder of the CMA Group, said: "CMA’s presence in New York greatly enhances our research capabilities in the US and Global hedge fund markets. New York is the centre of the hedge fund world and CMA had to be there in order to achieve a truly global presence". Metaxa said: "We are delighted Matias is joining us to head CMA North America. He brings a strong investment research background, as well as the managerial skills necessary to run a research team." Ringel worked from 1992 to 1996 at Salomon Brothers in the Latin American Corporate Finance Group and the Equity Capital Markets Division. He had direct responsibility for Peru and Colombia, and participated in the structuring and execution of several large transactions including IPO’s, Global Bonds and Financial Sector acquisitions. From 1996 to 2003 he worked as a Vice President of Operations and Investments in his family business in Puerto Rico, where he had direct responsibility for over 100 people and taught graduate and undergraduate finance and investment courses at University of Puerto Rico. Ringel holds a M.A. in International Economics and a B.A. in Finance from Brandeis University in Massachusetts. Background Note: Capital Management Advisors is an independent financial advisory group established in 1997 to assist high net-worth individuals, family groups and institutions in the management of their financial assets. The group specialises in the selection of both Traditional and Alternative investment managers. The Capital Management Advisors Group currently manages USD 725 million in institutional and private client assets. Copyright Hedgeweek 2003 Â