US - The former chief of Commerzbank Securities alternative investment strategies (AIS) has quit to set up new alternative asset management firm, Ferro Capital.
Kevin Ferro is now chairman and CEO of New York-based Ferro Capital, which will specialise in multi-manager hedge fund products.
Ferro founded Commerzbank’s AIS group in 1998. He created and managed a range of funds-of-hedge funds with approximately $400m in assets.
Ferro said: “We are forming Ferro Capital to continue our focus on the management of funds-of-funds offering super-premium hedge fund capacity to selected clients in the US, Europe and Asia.”
Joining Ferro are additional members of Commerzbank Securities' AIS Group, including the team's head of portfolio research, head of product development, and the head of portfolio operations, each of whom will be managing directors of the new firm.
The firm is also planning to open offices in Europe.
By Madhu Kalia
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point