Permal Investment Management Services has appointed Paul Jeffries (pictured) to its institutional team, where he will be responsible for the Group’s UK Institutional business. Jeffries joins Permal on 1 June from Railpen Investments and will report to Roberto Giuffrida, Executive Vice President and Co Head Global Business Development.
At Railpen Investments, the UK railways pension scheme and one of the largest UK schemes, Mr Jeffries managed the GBP8 billion global equity multimanager portfolio, investing in both traditional and alternative managers. This role included research, monitoring and selecting new investment ideas. Before joining Railpen in 2005, Mr Jeffries worked at RMB International.
Permal Group is one of the oldest and most established alternative asset management firms in the world, offering a wide range of multi-manager and multi-strategy funds, including absolute and directional strategies. As one of the largest fund of hedge funds managers, Permal currently manages approximately USD23bn in alternative investments.
Roberto Giuffrida says: “Paul will be a valuable addition to our institutional team. This is a new role and shows our serious commitment to the UK institutional market. We have an established global institutional business across all client segments, namely pension, insurance, endowment/ foundation and sovereign, and last year brought on board Andrew Rozanov (former Managing Director and Head of Sovereign Advisory at State Street) to head our sovereign wealth advisory arm. Paul’s knowledge of the UK pensions market and his experience of managing investments for one of the largest UK pension schemes will certainly enhance our presence in the UK market and is a good example of how we are developing our business around the world.”
