RAB Capital has hired Gary Pitts to be its chief compliance officer. Pitts joins from Brevan Howard Asset Management, where he held a similar role. He has also held senior regulatory and compliance-related functions at Threadneedle, Credit Suisse and Henderson Global Investors.
“We are delighted to have a compliance professional of Gary’s calibre and experience on board, as the growth and internationalisation of the business places increasing demands on the compliance function,” said RAB executive chairman Michael Alen-Buckley.
A raft of hedge fund managers hired compliance officers recently. Last year The Children’s Investment Fund Management hedge fund, and fund of hedge funds manager Arden hired compliance officers while GLG Partners hired Emmanuel Roman from Goldman Sachs as co-chief executive officer in 2005 to manage marketing, risk management and compliance.
RAB Capital was founded in 1999 and has grown into a global absolute return asset management firm with $7.2 billion (e4.9bn) of assets under management as at 31 December 2007. The group currently manages 17 absolute return strategies with assets in excess of $100 million (15 single strategy and two multi strategy) and also manages the AIM-quoted RAB Special Situations Company.
© February 2008