WEST PALM BEACH, FL (HEDGECO.NET) – Former Morgan Stanley managing director has been hired by a new global investment managing company to head the firm�s global investment management initiatives.Stuart Hendel was the managing director of a Morgan Stanley prime brokerage unit. Eric Mindich, formerly a partner at Goldman Sachs, has recruited Hendel. Hendel is to serve as the chief operatingofficer of Mindich�s new global investment management firm.
According to published reports, the new asset management firm will be launching a multistrategy hedge fund at an unspecified period sometime during 2004. There are also unconfirmed reports that Erland Karlsson, formerly head of Goldman Sach�s proprietary operations in its London branch office is also working with Mindich towards the formation of the new company. The projected management of assets is in the neighborhood of $1billion.
According to an unnamed company spokesman, the new firm is now organizing skilled professionals, as well as developing infrastructure needed by the company to begin operations. No specific timetable was immediately provided when such operation will start.
Hendel has worked at Morgan Stanley for a period of about 15 years, and according to reports will be leaving in few weeks. Morgan Stanley management has appointed his successor.
Paul Oranika
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HedgeCo.Net
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