Commerzbank Global Equities forms New York-Based Alternative Investment Strategies team.NEW YORK--(BUSINESS WIRE)--Sept. 13, 1999-- Commerzbank Global Equities, the international equities division of Commerzbank AG, announces the launch of its Alternative Investment Strategies (AIS) unit. The AIS team is responsible for a variety of alternative investment businesses. One of its primary activities is the design, construction, and management of hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" and private equity fund multi-manager vehicles for a global customer base. The team has six people in offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Frankfurt, including: - Kevin Ferro who joins as global head of the new unit. Prior to Commerzbank, he was vice president, D.E. Shaw & Co., with responsibility for multi-manager investment Multi-manager investment is an investment product that consists of multiple specialized funds. Each specialized fund may invest across different sectors and markets, or having managers investing in the same asset class but have different investment styles. products. - Franco Baseggio who joins as the team's hedge fund portfolio manager. He was formerly with D.E. Shaw & Co. responsible for portfolio management. - Markus Hampel who joins as senior relationship manager. Based in Frankfurt, he has served with Commerzbank as investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and portfolio manager in New York, Gibraltar, and Berlin. - Peter Lurie who joins as the team's attorney. He was formerly with the firm of Simpson Thacher & Bartlett, where he specialized in private equity transactions and mergers & acquisitions. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Ross Garon, head of Commerzbank Global Equities in the U.S., "this team has significant relationships in both hedge fund and private equity fund industries. They bring to our operation a wealth of experience in the structuring, marketing, and management of these cutting-edge products, as we continue our expansion into the global markets." Commerzbank Global Equities is a fully integrated division of its German parent, Commerzbank AG, one of Europe's leading universal banks with a strong position at the heart of the new Euro-zone. It has direct access to Commerzbank's $382bn balance sheet (12/31/98) and, AA-/Aa3/AA- credit ratings from S&P, Moody's and IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals . In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Commerzbank Global Equities transacts business through Commerzbank Capital Markets Corporation, a wholly owned registered broker-dealer of Commerzbank AG. |
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