Ellington Management Group hired John Simone and Doug Dupont to increase the breadth of its credit strategy offerings for insurance companies.
Mr. Simone joined the firm in December as managing director and head of insurance solutions. He will oversee management and expansion of Ellington's insurance business, said Jonathan Gasthalter, a company spokesman, in an email.
Mr. Dupont came aboard in early January as managing director and head of insurance strategies. He will "lead the development, implementation and management of client strategies." including portfolio construction and risk management, Mr. Gasthalter said.
Both positions are new.
Mr. Dupont reports to Mr. Simone and Mr. Simone reports to Michael Vranos, the firm's founder and CEO.
"Ellington's platform is well built to service the current and future needs of insurance companies globally given the firm's continued investment in unique sourcing arrangements, state-of-the-art technology and middle office solutions, coupled with its data-driven investment and structuring expertise," Mr. Gasthalter said.
Mr. Simone was managing director, senior vice president and head of insurance sales and solutions at Voya Investment Management. He was replaced by Michael Alvarez, managing director, who previously managed the U.S. side of the firm's insurance solutions business, said Kristopher Kagel, a spokesman, in an email.
Mr. Dupont was senior managing director, head of asset allocation and head of fixed-income portfolio management at Guardian Life Insurance Company of America.
Paul Jablansky was promoted to senior managing director and replaced Mr. Dupont in his prior roles at Guardian, said Brenda Mendoza, a spokeswoman for the firm, in an email.
Previously, Mr. Jablansky was managing director and head of fixed-income strategy and investment-grade research, she said.
Ellington managed $14 billion in credit strategies as of Jan. 1.
