Leo R. Svoboda will join tail-risk specialist hedge fund manager Penso Advisors in mid-May as a macro analyst, said Max Hilton, a Penso spokesman, in an e-mail.
Penso managed $1.3 billion on a discretionary basis as of Jan. 1, according to the firm’s latest ADV filing with the Securities and Exchange Commission.
Mr. Svoboda is senior portfolio manager-absolute return at UPS Group Trust, the $29 billion defined benefit plan of United Parcel Services Inc., Atlanta.
Brian H. Pellegrino, chief investment officer of the UPS pension fund, said in an e-mail that an external replacement for Mr. Svoboda will be sought. The candidate search will be handled by the company’s in-house recruiter, he added.