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October 15, 2002 at 08:00 PM
NEW YORK (HedgeWorld.com)–Keeping a watch on the bottom line at hedge funds, Linda Munn and Myriam Stephens are helping hedge fund managers’ form successful businesses alongside profitable investment strategies.
Their venture, HedgePros, helps pre-startups, startups, established hedge fund firms and traditional long-only money management firms create core business and marketing strategies. The firm offers investment managers business and office planning, sales and marketing strategic and business planning.
“We thought we could develop a company to help hedge funds do everything except invest the money,” said Ms. Munn, founding principal of the new business.
Coming from the long-only world, Ms. Munn was a managing director-principal of the Bear Stearns corporate marketing department and was responsible for the development and introduction of the corporate identity system and firm-wide marketing, advertising and business building efforts. Ms. Stephens, also founding principal at HedgePros, brings hedge fund experience to the partnership and was a principal at the prime brokerage division at Bank of America. She was involved in generating new business and managing existing client relationships.
While working at Bank of America, Ms. Stephens was surprised that most hedge fund customers never came back to the prime brokerage firm to renegotiate fees and contracts. “This is a world were everything is negotiable, especially given the competition,” Ms. Stephens said.
