Jeff Feig will join money manager Fortress Investment Group as portfolio manager, co-chief investment officer of the Fortress Macro Fund, and co-president of liquid markets, said Gordon E. Runte, managing director.
Mr. Feig will start at the firm sometime in the fall, Mr. Runte said.
Also, Christopher Fahy joined Fortress last week as managing director in the firm's liquid markets business, Mr. Runte said. It is a new position.
Mr. Feig will be co-CIO of the $3.8 billion Macro Fund along with Michael E. Novogratz, principal and director, who is currently sole CIO of the fund. Adam Levinson had been co-CIO with Mr. Novogratz until January when he became CIO of the $2.9 billion Fortress Asia Macro Fund, the first fund in Fortress' new affiliated manager platform.
Mr. Feig will be co-president of liquid markets along with Stuart H. Bohart, senior managing director-strategy. Mr. Bohart is currently sole president of liquid markets and will split responsibilities with Mr. Feig. The reason for the change is Mr. Bohart has recently added the role of co-CIO of the Fortress Partners Fund. The size of the fund could not be learned by press time.
Mr. Feig is currently managing director and global head of developed markets foreign exchange at Citi, said Danielle Romero-Apsilos, managing director with Citi's institutional clients group. Ms. Romero-Apsilos wrote in an e-mail that Mr. Feig will be leaving at the end of the month and his replacement will be announced shortly.
Mr. Fahy was previously a currency trader with Deutsche Bank. Deutsche spokeswoman Amanda Williams declined to comment.
Fortress had $62.5 billion in assets under management as of March 31.
