US - Absolute return currency manager Hathersage Capital Management has hired former head of currency at Hermes Investment Management Momtchil Pojarliev.
Pojarliev will serve as director and senior portfolio manager in New York, a new position for the firm.
In an e-mail to GP, Pojarliev said his responsibilities will include developing trade ideas, executing trading strategies, monitoring markets and managing risks.
Most recently he lead the currency team at Hermes, the investment management arm of the BT Pension Scheme, and the largest corporate pension plan in the UK. Pojarliev has authored over 20 academic articles, including research on alpha and beta producing currency managers, Hathersage said in a release.
Hathersage founder and head of portfolio management Bill Lipschutz said: "Momtchil's experience and his work in the area of currency alpha measurement and production match well with our focus at Hathersage. We are confident that our investors will benefit greatly."
Pojarliev said: "I am also planning to continue some of my research to increase the transparency in currency management so that investors could benefit from this additional alpha source."
He added: "Both alpha and beta managers offer value for investors, but of course the price for alpha and beta should be different and investors should know in what they are investing. We need more transparency. For example, the events in 2008 showed that what investors had perceived to be uncorrelated alpha turned out to be equity beta."
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, finds Legal & General (L&G) research.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).