Vilas Gadkari, Giuseppe Sette and Jan Szilagyi joined Lombard Odier Investment Managers to form its dedicated global macro team, said a spokesman.
The positions are new. The timing of the appointments, which coincide with the launch of a global macro strategy, is linked to the current market environment, added the spokesman in an e-mail. He said that in order for global macro strategies to be successful, they rely on large dislocations and imbalances across the global economy, market trends and asset class volatility. With current risk premiums compressed, this type of dynamic strategy “appears very attractive on a relative basis,” he said.
Mr. Gadkari most recently held a senior portfolio management role at Brevan Howard Asset Management, which he left in 2011. Mr. Sette founded alternative money management firm Endowment Advisers Capital Management in 2012. Mr. Szilagyi was previously a global macro portfolio manager at Fortress Investment Group. A spokesman could not be reached for comment by press time.
“The caliber of the team offers investors a fresh look at the challenges investors face in the global macro environment,” said Jean-Pascal Porcherot, head of Lombard Odier’s 1798 hedge fund strategies, in a news release. “It was clear from the outset that we shared a similar DNA seeking robust returns and managing the downside risk.”
Lombard Odier IM has $50 billion of assets under management.