Alger Associates, a US-based fund manager, has set up a subsidiary in the UK, called Alger Management, to expand its global asset management operations.
The firm has selected Kirk Hotte, senior vice president head of international sales, to head up the new office.
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In his new role, Kirk will be responsible for expanding Alger’s presence to private bank, multimanager, and institutional relationships located outside the US.
Prior to joining Alger, Kirk has worked at Old Mutual Global Investors, Investec Asset Management, as European business director and spent more than 12 years at AXA, most recently as director of global distributors.
Jim Tambone, executive vice president and CDO of Fred Alger Management, said: "Establishing Alger Management, Ltd. and hiring Kirk adds to our ongoing global distribution efforts, and is an indication of the optimism we have to build our presence outside the U.S. and a reflection of the offshore growth we have had over the past five years."
Alger Associates operates as a subsidiary of Fred Alger Management, an asset management firm in the US with over US$2.5 billion of assets.
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