Bruce Pflug joined Crestline Research Associates as managing director. The position is new, Mr. Pflug said in an interview. He will oversee business development and investor relations for the firm, which is the New York affiliate of Crestline Investors, which manages $4 billion in hedge fund of funds. Mr. Pflug was managing director and head of business development at HSBC Investments (USA) until April 30. Officials at HSBC Investments couldnt be reached by press time for information about Mr. Pflugs replacement.