Patrick Rudden was named chief investment officer at Jetstone Asset Management, a spokesman said.
The position is new, and Mr. Rudden is responsible for overseeing the firm’s multiasset investment strategy.
Jetstone has $1.8 billion of committed assets, and deploys a multiasset, multimanager investment approach across equities and bonds. Jetstone is currently applying for registration with the Financial Conduct Authority in the U.K., the spokesman said.
“There is a well-defined need for a liquid, disciplined and innovative multiasset proposition that can actively exploit opportunities across global markets and offer stable risk adjusted returns,” said Ahmad Butt, CEO of Jetstone Asset Management, in a news release. “Jetstone Asset Management will seek to fulfill this demand in the market by combining a top-down asset allocation based on practical and academic know-how with quantitative risk management based on better transparency. Jetstone’s robust investment process will aim to ensure that we are committed to long-term quality growth.”
Mr. Rudden was previously head of multiasset business development for Europe, the Middle East and Africa at AllianceBernstein. Information on a replacement was not available by press time.