July 15, 2003

Pequot Hires Research Head

WESTPORT, Conn. (HedgeWorld.com)--Michael A. Corasaniti will join Pequot Capital Management Inc. in September 2003 as a managing director helping to oversee the firm's research.

He will work closely with Arthur J. Samberg, chairman of Pequot, in managing the research efforts for Pequot's Core portfolios, according to an announcement from the firm, which has US$7 billion in assets under management. Mr. Samberg said in a statement that Mr. Corasaniti's addition will enhance the firm's research team and that Pequot's diversified funds will benefit from his insight and expertise.

Mr. Corasaniti will leave Keefe, Bruyette & Woods Inc., New York, at the end of July. At KBW, he was the director of research since October 2001. According to KBW, John Howard will replace Mr. Corasaniti. Mr. Howard heads up a 61-person research department that was rebuilt in the wake of the Sept. 11 attacks on the World Trade Center, according to KBW.

SBarreto@HedgeWorld.com

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