OLD GREENWICH, Conn. (HedgeWorld.com)-Ellington Management Group LLC hired Thomas Larkin as chief operating officer, a new position, and named Paul Asaro as chief financial officer, replacing Carol Calhoun, who is leaving the firm.

Mr. Larkin joins Ellington from Resurgence Asset Management LLC, White Plains, N.Y., where he had served as chief financial officer since 1997. No one yet has been named to take his place, said a woman who answered the phone at Resurgence.

At Ellington, Mr. Larkin will oversee most operational and financial functions.

“We are extremely fortunate to have Tom join our company as we move into the next phase of our growth and institutionalization,” said Michael Vranos, Ellington’s founder and chief executive. “As we carefully grow our assets under management over time, it is critical for us and for our investors that we continue to enhance our infrastructure.”

Ellington in its various forms manages US$1.9 billion in hedge fund assets and another US$2 billion in collateralized bond obligations.

Mr. Asaro most recently served as Ellington’s controller. His duties will be assumed by other staff, a spokeswoman said.

Ellington officials did not disclose Ms. Calhoun’s plans. In a statement, she said she would “explore new challenges and opportunities.”

Mr. Vranos called Ms. Calhoun a “key factor” in the firm’s growth and success. “She has also done a terrific job over the past several months transitioning Paul Asaro into the role of chief financial officer, so she leaves us in great shape, for which we are additionally thankful.”

CClair@HedgeWorld.com