D.E. Shaw & Co. LP, the $20 billion asset manager founded by David Shaw, is moving Julius Gaudio, one of its six executive committee members, to Hong Kong from New York to increase the ranks of senior management in Asia.
In doing so, D.E. Shaw is joining a trend of global managers setting up Asian offices or adding to local staff.
Mr. Gaudio, the first member of the executive committee in Asia, is also a joint supervisor of the New York-based company's global asset management businesses, according to an e-mailed statement from the company Nov. 2. He heads its corporate credit-related strategies.
“The Hong Kong office has quickly become an important hub for our global operations only a few years after its establishment,” Meng Liang, CEO of D.E. Shaw's Greater China private equity unit, said in the statement. Mr. Gaudio's relocation “demonstrates the firm's continued commitment to the region.”
D.E. Shaw is joining global managers such as Davidson Kempner Capital Management LLC, Moore Capital Management LLC and GLG Partners Inc. in setting up Asian offices or adding to local staff, according to records from Hong Kong's Securities and Futures Commission.
Fortress Investment Group LLC is moving Adam Levinson, co-chief investment officer of its global macro funds, to Singapore early next year to lead the expansion of the New York-based buyout and hedge fund firm in the region.
D.E. Shaw's Hong Kong office, set up in 2007, is one of six it has in Asia.