Commerzbank loses head of alternative investment unit
Kevin Ferro, formerly head of Commerzbank’s New York-based Alternative Investment Strategies (AIS) unit, has left the firm, along with five members of his team. A Commerzbank spokesperson in New York said that Ferro and his colleagues have set up a new company, “presumed to be a hedge fund.”
“The integration of the AIS activities into the Derivative Product will enable us to provide a much stronger platform from which to substantially accelerate the growth of this business” said Richardson. “In addition we must continue to increase the accessibility of these products to retail customers via our Private Clients division.”
Pascoe added: “We have established a good track record in our alternative investment portfolios and will now focus on leveraging our global distribution. We will aggressively grow the assets under management through the offering of new and innovative products that will be tailored to meet the specific requirements of our client base.”
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