Oppenheimer Funds has hired Mark Hamilton as CIO, asset allocation, effective April 8 2013 onwards.

In his new role, Hamilton will lead the expansion of the investment strategies. He will focus on designing and implementing multi-asset products and solutions.

This capability will leverage Oppenheimer Funds’ existing franchise, which includes traditional asset classes, as well as a full complement of specialized and alternative asset classes.

Hamilton joined the firm from AllianceBernstein L.P., where he held various roles throughout his 19-year tenure. Most recently, he was investment director on the Dynamic Asset Allocation portfolio management team. His responsibilities included managing investments in the global equity, bond, credit, currency and real asset sectors, and directing the design, development and implementation of dynamic asset allocation strategies for institutional, sub-advisory, retail and private client channels.

Hamilton’s current position is a newly created leadership role, reporting directly to Art Steinmetz, CIO, Oppenheimer Funds.

Steinmetz said: "Increasingly, advisors and their clients are looking for more packaged products that address client needs rather than just the component parts."

Hamilton said: "OppenheimerFunds has a long history in bringing new, innovative strategies to market and has built its reputation on being a high conviction, high alpha active manager with a globalised view."