Joseph Gieger was hired as managing director of hedge fund and fund-of-funds manager
GAM USA, overseeing its U.S. operations and distribution, effective Sept. 6. It is a new position. Mr. Gieger was president of Lombard Odier Darier & Hentsch's U.S. asset management operations. Hans Peter Gruenig, president of Lombard Odier's U.S. broker-dealer business, will assume Mr. Gieger's duties temporarily; the firm is planning to move the headquarters of its U.S. asset management business over the next several months to Zurich, where its parent company is located, he said. It has not been determined who will permanently replace Mr. Gieger. "The firm will have an independent board of directors and will basically operate more independently from its parent organization," said Mr. Gieger.
