Wednesday, 24 August 2016
Last updated 20 hours ago
Oct 18 2010 | 11:00am ET
Another top Fortress Investment Group executive is leaving New York as the alternative investments giant focuses more of its attention on Asia.
Peter Briger, co-chairman of the firm and head of its credit unit, will open a new office in San Francisco late next year, Bloomberg News reports. His relocation follows that of co-chief investment officer Adam Levinson, who plans to open a new Singapore office for the firm next year.
"Our business in Japan is big and growing, which requires me to spend more time on the phone and traveling to Asia," Briger told Bloomberg. Some members of Briger's team will also move to San Francisco, which will be Fortress' second West Coast office, after Los Angeles.
In an e-mail to employees, CEO Daniel Mudd said the move was for a mix of personal and professional reason.
"With the impact of Asia and particularly Japan in credit and the location of Pete's investors and competition in the area, the move makes sense," Mudd wrote.
In the e-mail, Mudd also announced the exit of Jarett Wait, head of investor relations and global capital formation.