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Hedge fund taps portfolio manager and research head
FWR Staff
18 March 2008
BlueMountain Capital Management hires from Citi WM unit and Deutsche Bank. New York-based hedge-fund manager BlueMountain Capital Management has appointed Scott Lessing as the new head of corporate research, and it has named Derek Smith as a senior portfolio manager.
Lessing and Smith come to BlueMountain from Citigroup and Deutsche Bank respectively. Research and trading Lessing was last COO of alternative investments at Citi's Global Wealth Management. In his new role, he will be in charge of company-specific and strategic market research across the firm.
Smith, formerly a managing director of global credit trading at Deutsche Bank, will concentrate on BlueMountain's fundamental trading strategies.
BlueMountain has over $5 billion in assets under management in its hedge funds. Prides Crossing, Mass.-based Affiliated Managers Group holds a minority stake in BlueMountain. -FWR
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