Pyramis Global Advisors launched a global institutional cash business based in London, confirmed spokesman Stephen Austin.
Peter Knight was named head of international business development, money markets, to lead the new business. He reports to Kevin Uebelein, Pyramis president and CEO.
Mr. Knight will lead an effort to develop institutional money market and cash management strategies based in major worldwide currencies.
He was CEO of HSBC Global Asset Management’s global cash business until 2009. Most recently, he was an independent consultant to mutual fund providers.