Arden Adds Four to Senior Management Team

NEW YORK (HedgeWorld.com)--Stephen C. Cordy, Alexander Mucelli, S. Dov Lando and Sara Hedberg all have joined funds of funds manager Arden Asset Management in newly created positions.

All will be based in New York, except for Ms. Hedberg who is joining Arden's London office handling research and client service in Europe. Former Morgan Stanley prime brokerage executives opened the European office last year Previous HedgeWorld Story. Todd Walters, who originally opened the office, left Arden earlier this year to join Credit Suisse First Boston Previous HedgeWorld Story.

Averell H. Mortimer, president of Arden, said in a statement that the new hires will help round out Arden's infrastructure and will assist the firm in meeting the needs of its institutional and high-net-worth clients. The firm currently has US$2.5 billion in assets under management and has filed documents with the Securities and Exchange Commission for a registered hedge funds of funds offering Previous HedgeWorld Story.

Mr. Cordy was named managing director, client management and development and will be the fourth member of Arden's investment committee. He was managing director and head of corporate coverage for the United States and Canada of Morgan Stanley Asset Management, where he was in charge of maintaining institutional client relationships.

Mr. Mucelli was in the equities division of Goldman, Sachs & Co. and before that was part of Goldman Sachs Wealth Management. At Arden, he will be chief operating officer. Mr. Lando will act as general counsel at Arden after being assistant general counsel at American International Group.

SBarreto@HedgeWorld.com

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