Investment banks shedding staff has helped the $15.5 billion hedge fund-of-funds manager, Gottex Fund Management, pick up three senior executives this year.

Most recently, Gottex appointed James Singh as the deputy head of its Asian Business. Singh joined the Hong Kong office on September 1, just two weeks before his former employer, Lehman Brothers, announced bankruptcy on September 15. At Lehman, Singh was managing director, chief administrative officer, and head of strategic planning for capital markets (equity and fixed income) in Asia. Peter Bennett, senior managing director and head of the Asia Business at Gottex, described Singh, his number two, as: “someone we might not have been able to get in better times. “With the current dislocation and the events going on in the market place I think it’s well known that there are fewer jobs in finance and people are watching their costs a little bit more. This is a good environment to hire good quality people that wouldn’t be open to moving in more normal times,” Bennett said. In March, William Landes joined Gottex as senior managing director, head of North America Marketing. His previous role was as managing director at Putnam Investments. In January, the fund picked up another managing director in Brian Fullerton, formerly chief investment officer of the Americas at Merrill Lynch Investment Management. Gottex prides itself on its ability to send several members of its senior team to visit each hedge fund manger personally and independently. “We have a lot of people with 20-years-plus experience, and the three hires this year take our senior team to 18 people,” Bennet said. Gottex’s fund-of-funds has between 60 and 70 underlying hedge fund managers, and its institutional clients include Western Australia Local Government Super.

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