Norman Milner and Rick Dowdle joined Ramius as managing directors and co-heads of the hedge fund managers newly formed credit trading business.
Daniel Gagnier, a Ramius spokesman, said the positions are new, part of the firms expansion into new areas of the credit markets.
Messrs. Milner and Dowdle were partners and portfolio managers at credit hedge fund specialist Arx Investment Management; CEO Dwight Sipprelle closed the fund earlier this year, Mr. Gagnier said. Mr. Milner also was Arxs head of trading.
Kenneth Grossman also joined Ramius as managing director of distressed investments, another position added as part of the firms expansion of its credit capabilities. Mr. Grossman was partner and portfolio manager at hedge fund manager Del Mar Asset Management. Mr. Grossman left Del Mar in February, and his duties were assumed by others at the firm, said Jerald Tracy, a Del Mar partner and managing director.