Coast Asset Management, LLC, an alternative investment firm managing approximately $6.7 billion in assets for institutional and high-net worth clients worldwide, has made recent high-level staff and board appointments.
Coast is expanding in response to heightened investor interest in its multi-manager fund of funds and customised strategies, and favourable conditions created by the ongoing global turmoil in financial markets.
In December 2007, Santa Monica based Coast named Roger Hartley, 47, as COO. Hartley previously served as a San Francisco-based managing director at Putnam Lovell, a division of Jefferies & Co., and an adviser to the global financial services industry. Coast also created additional compliance and legal affairs resources by recruiting Susan Mosher, 53, as chief compliance officer, in August 2007, and Jonathan Jacobs, 31, as general counsel, in April 2007. Mosher joined the firm from Investors Bank & Trust. Jacobs previously worked at the US affiliate of Financial Risk Management.
In recent months, Coast has recruited highly regarded senior executives to its board of managers, which is responsible for setting strategic goals for the firm. Madhav Misra, 56, was named to the board in September 2007. Misra was previously a founder and chief investment officer of Allianz Hedge Fund Partners and before that, head of hedge funds for Citigroup Alternative Investments. Peter Hanelt, 61, president of PGH Consulting Inc., a specialist advisor to both public and private companies, joined the board in June 2007. Edward Lyman, 64, formerly president of Axa Rosenberg Group LLC, joined the board in February 2007. They, along with David Smith, Coasts founder and president, Lori Edwards, senior vice president, and Peter Chung, a managing partner at Summit Partners, an investor in Coast, are members of Coasts board of managers.
“Coasts crucial edge is the quality, insights and experience of our people and we are fortunate to attract the world-class individuals who recently joined the firm as senior executives and board members. They will all play influential roles as we expand our international capabilities and develop additional investment strategies to serve Coasts growing global client base,” says David Smith, CEO, Coast.