Hathersage Capital Management has hired Bill Strack as a director of portfolio management. Strack will be responsible for accessing and evaluating qualitative and quantitative market information and supporting the portfolio management team in both trade idea and trade strategy development. He is based in Los Angeles and reports to Bill Lipschutz, head of portfolio management.
Strack and Lipschutz previously worked together on Salomon Brothers' foreign exchange desk, and later co-founded several start-up foreign exchange-only asset management companies from 1986 until 1995.
"It's great to be working closely with Bill again and I look forward to his unique insight and support in managing our client portfolios," said Lipschutz. "Bill's IT expertise is also invaluable as we continue to implement and integrate more advanced technologies into our investment process."
Hathersage is a discretionary currency manager that trades spot and forward currency contracts, and over-the-counter foreign currency option contracts in the interbank market. The firm’s Daily Currency program is down 0.56% for the year and currently manages $55.6 million in assets. Its Long-Term Currency program has fared better returning 5.03% as of the end of March while managing $68.9 million in assets.