Permal appoints Yale professor as adviser

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US - Institutional fund of hedge funds manager Permal has announced its second senior appointment in as many months, hiring Zhiwu Chen, professor of finance at Yale University, as a consulting chief adviser.

The appointment follows the $23bn asset manager hiring Paul Jeffries in May, from UK pension fund Railpen, to head its UK institutional business. Chen will work with Permal's investment committe...

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