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Hedge Funds

D.E. Shaw Investment Management adds co-CIO

Ruvim Breydo was promoted to the role of co-chief investment officer for D.E. Shaw group's institutional asset management business, D.E. Shaw Investment Management.

Mr. Breydo, a managing director who has been at the firm since 1995, will assume the new role effective Feb. 18, and serve as co-CIO alongside Philip Kearns, a news release from the company states.

Mr. Breydo will report to Max Stone, managing director and member of the D.E. Shaw group's four-person executive committee.

Mr. Breydo has been "a significant contributor in the development and management of the D.E. Shaw group's equity-linked investment strategies," and served as a rotating member of the firm's risk committee, according to the release.

DESIM, D.E. Shaw's New York-based institutional asset management business, is a quantitatively managed hedge fund firm that manages more than $20 billion for institutional investors.

"Ruvim is a talented and accomplished investment leader with deep experience in both systematic and discretionary strategies," Mr. Stone said in a statement. "We are excited to have him join the DESIM effort. Philip and Ruvim are an exceptional team to lead our efforts to further expand DESIM's investment capabilities and to deliver attractive results to our investors."