Ex-U.K. Trade Minister Davies Joins PineBridge

Sep 9 2010 | 1:58pm ET

A former British trade minister has been named chairman of hedge fund PineBridge Investments.

Mervyn Davies took the non-executive post last month at the New York-based firm, which has about $78 billion in assets under management. Davies, who will be based in London, was trade minister from January 2009 through May, when the ruling Labour Party was ousted from office.

Before joining the government, Davis was CEO of Standard Chartered Bank.

PineBridge is the former asset management arm of insurance giant American International Group. The firm was bought in March by businessman Richard Li.

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