Michael Raub was named managing director at hedge fund-of-funds manager K2 Advisors, responsible for increasing the firm's client base among Taft-Hartley investors.
The marketing position is new, said Renee Soto, a K2 spokeswoman, in an e-mail. Mr. Raub will be based in Portland, Ore., but will spend considerable time in K2's Stamford, Conn., office, Ms. Soto said.
Mr. Raub was vice president and director of business development at investment consultant Segal Advisors. Mr. Raub will not be replaced, Mary Feldman, a Segal Advisors spokeswoman, said in an e-mail.
“His business development function was mostly internal. All our Segal Advisors consultants have business development responsibilities,” she wrote in the e-mail.
K2 Advisors managed $10.4 billion in commingled, separate account and customized hedge funds of funds as of June 30 for a predominantly institutional client base.