Peter Kraus, who headed Goldman Sachs’ hedge fund efforts until he left the firm in March, has joined Merrill Lynch.
Kraus will oversee strategy and investments at Merrill, and will serve on the firm’s investment committee.
“Peter Kraus will be a tremendous resource to me and the senior management team in identifying the best opportunities for growth and investment around the world,” Merrill CEO—and Goldman veteran—John Thain said in a statement. Kraus will report directly to Thain.
At Goldman, Kraus was co-head of Goldman Sachs Asset Management and oversaw its flagship Global Alpha hedge fund. Many Goldman hedge fund products, including Global Alpha, suffered big losses last year.