Pier Friend was named a managing director and senior investment team member at New Providence Asset Management.
The position is a new one at the outsourced chief investment officer firm.
The hiring is part of the expansion of New Providence's investment team amid growing demand for its services, Lance R. Odden, a principal at New Providence in charge of business development, said in a telephone interview.
Mr. Friend was a vice president and portfolio strategist on the U.S. core equity team at Goldman Sachs Asset Management. GSAM spokeswoman Andrea Raphael said a direct replacement for Mr. Friend has yet to be named, with other team members assuming his responsibilities.