STAMFORD, Conn. (HedgeWorld.com)–Funds of funds shop Parker Global Strategies put in place a new organizational structure aimed at better serving the firm’s growing institutional investor client base.
The most tangible change resulting from the restructuring is the formation of a new management committee made up of various division heads. The reorganization is intended to improve customer service at a time when the firm is taking on new mandates, new clients and is seeking to broaden its fund of funds reach.
Virginia Parker heads the new committee as chairman with six other existing staffers appointed to posts on the board. Caroline Bentz was named head of research and new product development and Alison Camardella heads client services.
At the helm of corporate administration is Mary Hamilton, Lisa Plateroti heads strategic developments and Mark Smith oversees risk management for the group. Board member Lorraine Walls was named of finance and Nina Xixis was named head of operations for the committee.
The firm did not disclose the size of the new allocations or the name of the investors that made them. The firm earlier this year launched its first multi-manager fund to bear the Parker Global Strategies name, the Cayman-domiciled PGS Gamma Edge Trust, which offers investors daily net-asset-value estimates.
Ms. Parker’s private wealth management group has advised on mandates in excess of US$1.5 billion since the firm’s inception in 1995.