Andrew Rozanov will join hedge fund-of-funds manager Permal Investment Management Services Thursday as managing director and head of sovereign advisory, confirmed Alastair Crabbe, a Permal spokesman.
Mr. Rozanov will manage and develop Permal's relationships with sovereign wealth funds, as well as work on portfolio construction and risk management from the firm's London office.
The position is new.
Mr. Rozanov was managing director and head of sovereign advisory, portfolio and risk management group at State Street Global Markets. Alicia Curran Sweeney, a State Street spokeswoman, said Mr. Rozanov will not be replaced.