Alternative investment management firm PAAMCO has appointed hedge fund veteran Basil Williams as managing director.
During the next year, he will transition into head of portfolio management, succeeding David Weinberger who plans to retire in mid-2017.
Williams, who was most recently co-chief investment officer of Mariner Investment Group, cites the innovation at PAAMCO as the key driver for him in joining the firm.
"Whether it is providing alternative absolute return portfolios, solving an LDI challenge or constructing bespoke completion portfolios for traditional asset class allocations, PAAMCO has become the go-to firm for the world's most sophisticated institutional investors,” says Williams. "I have known the firm since its inception more than 15 years ago and have seen how it has anticipated many of the industry developments such as transparency and separate accounts. I am delighted to be part of the organisation."
PAAMCO CEO Jane Buchan says: "Bringing Basil on board will broaden our outreach, particularly in the area of tailored, fixed income-based solutions. His 30-plus years of expertise will help us continue to design offerings that meet the changing needs of our clients. He is uniquely positioned to help us with our continued evolution. As a firm, we have found value in using our separate account structure to increase individual manager returns while simultaneously reducing overall manager costs."