Martello Investment Management has appointed of Peter Karpen director of business development. Karpen will be involved in all aspects of marketing and client service and in broader business development activities. He will also serve on Martello’s management committee.

In the past, Karpen has served as a director with Credit Suisse First Boston, a managing director at John W. Henry & Co., CIO of Diversified Investment Management LLC and director of marketing and Investor Relations for Archetype Risk Advisors.

David McCarthy founded Martello Investment in March 2002. The firm manages a series of onshore and offshore fund of funds for a variety of mainly institutional clients. As of Feb. 28, the total assets under management in Martello’s funds and advisory accounts totaled in excess of $700 million.