Forstmann-Leff International Inc., Chicago, continues to expand its investment management offerings, creating a global derivatives strategies group.
As part of that, Forstmann-Leff hired two commodity index specialists, Gregory S. Oberholtzer and M. Scott Manolis, as managing directors.
Each previously worked as vice president and director of the commodity portfolio management group of Jefferies & Co. Inc., New York, where they won't be replaced.
The global derivatives strategies group will offer institutions exposure to financial and tangible assets through derivatives-based and index-based strategies, as well as tailored hedging strategies.
Mr. Oberholtzer said the opportunity to join Forstmann-Leff came at a time when Jefferies was looking to get out of the commodities management business anyway. The two bring with them about $14 million in commodities-related assets under management, he said.
In addition to the new derivatives group, the unit of Refco Group Ltd. offers management in U.S. equities, U.S. fixed income and private equities.
