LONDON (HedgeWorld.com)–International Asset Management hired Bernard Minsky as head of risk management, a new position.

Mr. Minsky previously worked as executive director of international prime brokerage at Goldman Sachs International, according to an IAM statement. Officials at Goldman Sachs did not return a phone call by press time seeking information about who, if anyone, had replaced Mr. Minsky.

An IAM spokeswoman said officials at the US$1.5 billion fund of funds firm created the new risk management position in recognition of the growing importance risk plays across the range of investments.

At Goldman, Mr. Minsky’s responsibilities included margin risk management and overseeing all hedge fund client-lending policies. He also was co-head of firm-wide risk for Europe, according to the IAM statement.

“Bernard brings a wealth of specialist experience to our team,” said Alan Djanogly, IAM founder and investment director, in a statement. “[Risk management] is an essential ingredient to successful fund of hedge fund management and we see Bernard’s contribution to this area as a keystone in IAM’s continued commitment to provide our clients with superior fund of hedge funds investment management.”

CClair@HedgeWorld.com