St. Paul Hires Citigroup Veteran

SAINT PAUL, Minn. (HedgeWorld.com)–St. Paul Cos. hired William H. Heyman as executive vice president and chief investment officer, replacing Michael Wright, whose job plans are unknown.

Mr. Heyman has experience working with hedge funds and hedge fund strategies, and most recently was chairman of Citigroup Investments, New York, an investment unit of Citigroup. Among his other roles at Citigroup was founding and running Tribeca Investments, a proprietary trading operation that included merger arbitrage and convertible securities hedging in its operations, according to a St. Paul statement. The name of his replacement at Citigroup was unavailable.

St. Paul currently doesn’t have any hedge fund assets under management, said Joan Palm a company spokeswoman. She said it was too early to say whether he might introduce hedge funds to St. Paul’s investment portfolios.