Money Management

Welton Investment Partners hires first president

Basil Williams joined systematic global macro specialist Welton Investment Partners as president, a new position.

Mr. Williams is based in the firm's New York office and started March 11. His duties include working with institutional investors to craft solutions to meet individual needs as well as overseeing the firm's growth, said Patrick Welton, co-founder, CEO and CIO.

He reports to Mr. Welton, who is based in the firm's Carmel, Calif., headquarters.

"We were looking for someone with strong investment experience, not just a senior leader," said Mr. Welton, noting that in previous roles, Mr. Williams was a direct investor, running managed multistrategy hedge funds, as well as an allocator to external funds.

Mr. Williams' experience "working with hundreds of institutional investors over 20 years" will aid him in helping Welton Investment Partners' existing and new clients, Mr. Welton said.

Mr. Williams was head of portfolio management for hedge funds-of-funds manager PAAMCO Prisma Holdings. Whitney Gomez, a PAAMCO Prisma spokeswoman, did not immediately respond to a request for information about a replacement.

Welton Investment Partners manages $855 million.