MONEY MANAGEMENT

Brummer & Partners promotes from within to replace departing CEO

Ola Paulsson, senior managing director, was promoted to CEO of Swedish hedge fund manager Brummer & Partners.

Mr. Paulsson replaces Klaus Jantti who is leaving the firm, a news release said. Mr. Jantti's plans could not be learned.

Mr. Paulsson was chief operating officer for the Brummer multistrategy hedge fund, which uses nine single-strategy in-house managed hedge funds.

Marcus Wiklund, the multistrategy fund's head of research will assume Mr. Paulsson's duties as COO and add deputy managing director to his titles. The new head of research for the multistrategy fund is Kerim Celebi, who has served as an analyst for the hedge fund unit, according to the news release.

Mr. Jantti also served as senior managing director and portfolio manager of the overall BMS strategy and his role will be assumed by Mikael Spangberg, who was deputy managing director of Brummer's Nektar relative value/fixed income/macro hedge fund.

“Ola and Mikael complement each other perfectly. Both have long experience and in-depth knowledge of our business, both strategically and operationally,” said Patrik Brummer, chairman of Brummer & Partners and Brummer Multi-Strategy, in the news release. “Ola will be able to step into the role quickly as he knows the group maybe better than anyone. Mikael has the most relevant background for the role as managing director of BMS.”

Mr. Brummer will be co-portfolio manager of BMS with Mr. Spangberg.

Brummer & Partners manages Swedish kronor 125 billion ($14.4 billion) in hedge funds.