Citigroup Alternative Investments appoints new COO of Portable Alpha
| Jul 4th, 2006 | Filed under: Portable Alpha & Alpha/Beta Separation | By: Alpha Male |
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From: Hedgeweek Newsletter
Published: May 4, 2006
Excerpt:
“Citigroup Alternative Investments (CAI) has appointed David C Beeman as Chief Operating Officer of Portable Alpha. Beeman, who will report to Dean Barr, will be responsible for helping create and expanding CAI’s portable alpha investment strategies platform. The goal is consistent, low-volatility, absolute-return strategies and CAI believes their portable alpha products will provide a stable anchor for certain investors, especially pension portfolios.”
[...] Following Citigroup’s lead (see posting: Citigroup hires new COO of portable alpha), this un-named firm has taken the progressive step of seeking a portable alpha czar. Judging from the job description (excerpt below), this firm recognizes the unique, interdisciplinary skill-set required to coordinate the various elements of a (new?) business line such as this.  This marks the continuing maturation of portable alpha from a fringe ideology confined to “hedgies” to an important part of a mainstream investment management value proposition.   [...]