American Express Financial Corporation announced on Tuesday the creation of a global fund of hedge funds platform through the integration of American Express Bank and American Express Financial Corporation’s fund of hedge funds businesses.
“With the creation of a global fund of hedge funds platform, American Express will be in a more powerful position to significantly grow our business both in the US and internationally,” observed Ted Truscott, AEFC’s chief investment officer. “It will provide greater integration of our fund of hedge funds leadership, management and research talent,” he added.
The new entity is led by Sam Perruchoud, senior director, based in Geneva, Switzerland who noted: “With this new structure, American Express is in a better position to deliver outstanding alternative investment products and service to clients throughout the world.”
According to the firm, the combined entity has total assets under management in excess of $1 billion.
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