Jeffrey W. Smith was named managing director of business development at Performance Trust Investment Advisors.
The position is a new one at the boutique, which was launched 18 months ago as the asset management arm of Performance Trust Capital Partners.
In a telephone interview, Peter Cook, the firm’s chief investment officer, said Mr. Smith’s previous experience heading up sales at firms such as Pyramis Global Advisors and UBS Global Asset Management should accelerate Performance Trust Investment Advisors’ outreach to institutional investors.
Mr. Cook said his firm’s first investment strategy, a residential mortgage-backed securities offering launched in January, has returned 50% year-to-date without using leverage.
Mr. Smith comes to PTIA from JS Advisors, a consulting firm he established to advise asset managers on strategy, product and distribution.