US - Deutsche Asset Management (DeAM) has strengthened its hedge fund team with four new directorships.
The new hires are Steven Bossi, Mustafa Jama, John Gallagher and Lance Babbit who have been appointed as directors in the fund of funds team. All four will be based in New York and will report to Ray Nolte, managing director for Deutsche Bank Absolute Return Strategies unit.
Bossi, formerly president of AI International, joins as a senior portfolio manager and hedge fund analyst. At AI, Bossi was responsible for all investment related matters, including policy, manager selection and risk management.
Jama arrives at DeAM after six years with Bankers Trust, and joins as a portfolio manager and hedge fund analyst.
Gallagher joins as a portfolio manager, having spent the last three years at Deutsche Banc Alex Brown (DeBAB), the firms investment banking operation, where he was responsible for product management and structuring for alternative investments.
Babbit also joins the firm as a hedge fund analyst and portfolio manager. Prior to his arrival at DeAM, he was vice president at Banc of Americas Securities, responsible for direct research and due diligence for over 300 clients in the Central, Mountain and Pacific regions. Babbit was also responsible for providing hedge fund client consultation and serving as an informational liaison between the investment community and client base.
Currently, DeAM's hedge fund group manages over $5bn in assets, including $4bn in multi-manager fund of funds.
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