Wednesday, 26 October 2016
Last updated 4 hours ago
Aug 2 2007 | 9:52am ET
Fund of funds shop International Asset Management has promoted Morten Spenner to CEO, replacing Albert Fuss, who becomes executive director retaining an active involvement in investment management and client relationships.
Spenner joined IAM from Putnam Lovell, and has been at with the firm since 2003, working alongside Fuss in a strategic, planning and advisory role.
As a part of the restructuring, IAM is reshuffling some of its investment team to better “utilize their skills,” according to the firm. Specifically, within the firm’s portfolio management committee, Paul McCauley, who joined IAM from Goldman Sachs in 2004, has been named to the newly-created position of portfolio strategist, with a focus on the relative value and non-equity portions of IAM's portfolios.
Within the reseach group, Penny Aitken, who joined IAM from Tisbury Capital Management in 2004, was named as head of research in London and Mark DeAngelis, who joined IAM from K2 Advisors in 2003 to establish the New York research office, was appointed head of research in New York.
"Today's announcement reflects our desire to strengthen and enhance our business,” said Fuss. “Our philosophy at IAM has always been that the client is at the core of what we do and we recognize evolving client requirements in risk and portfolio management. Our aim is to keep our clients' interests at the forefront as we grow and Morten is the person to steer IAM into its next stage."