Hamilton, Bermuda-based Jupiter Asset Management has appointed Peter Fegelman as hedge fund business development director. In his new role, he will focus on the strategic development and direction of the hedge fund business at Jupiter.

Most recently, Fegelman was a managing director at Lehman Brothers Holdings’ investment management division, where he carried out due diligence on Lehman's equity investments in external hedge fund managers. Prior to joining Lehman, Fegelman was a managing director at Citigroup Alternative Investments, where he built and raised capital for several proprietary single-manager hedge funds.

“Having established our presence in the market, we believe this area has great potential and Peter's appointment underlines our commitment to growing our share of it,” said Edward Bonham Carter, chief executive of Jupiter Asset Management.