People Moves

The Bank of New York has appointed five new personnel to help strengthen its securities servicing division.

Elizabeth Fitzgibbons joins from Fortis Bank, where she was a business development manager, as a hedge fund relationship manager in the alternative investment services business.

Roslyn, N.Y.-based hedge fund N.I.R. Group has hired Keith Novick as a senior risk analyst charged with identifying, evaluating, and analyzing portfolio risks. Before joining N.I.R., Novick was an independent options trader on The New York Board of Trade and The Commodity Exchange.           

Middle-market private equity firm Norwest Equity Partners has promoted Timothy Kuehl to partner and Todd Solow to principal.

Former Goldman Sachs managing director Rick Sherlund is leaving the mothership for New York-based Galleon Group, a $6.5 billion hedge fund, where he comes aboard as a managing director. In his new capacity, Sherlund will manage a portfolio of technology stocks.

Global placement agent Atlantic-Pacific Capital has added three investment professionals to its ranks. Paul Arena joins the firm as a principal to focus on raising capital for real estate transactions and funds, while Rebecca Chia and Margaret Ware join the firm as analysts to focus on project management, deal execution and client servicing.

Private equity firm Lovell Minnick Partners has appointed Spencer Hoffman as a principal at its Philadelphia office, effective March 1. Hoffman reports to James Minnick, president of Lovell Minnick.

The Blackstone Group has named Ravi Ramanan an executive director. Ramanan was formerly senior vice president for functional excellence at Solectron Corp. Prior to that, he served for 13 years in a number of staff and management positions at General Electric.

A top Citigroup executive is leaving the firm to found his own hedge fund, according to published reports.

Ajay Kapur, since 2004 the Wall Street giant’s chief global equity strategist, is returning to Hong Kong—where he has residency rights—to set up First Horse Capital.

New York-based D.E. Shaw has named Liang Meng, co-head of JPMorgan Securities’ China investment banking group, CEO of its new Greater China private equity division.

Memphis, Tenn.-based managed futures firm Bolton Asset Management has hired Russell Daws as vice president of sales and marketing. Prior to joining BAM, Daws spent six years as a senior sales consultant for PerTrac Financial Solutions, focusing on Europe and the Middle East.