NEW YORK (HedgeWorld.com)–Dean T. Smith joined Highland Financial as senior vice president and will work closely with Richard Sauerwein as an expert in the structured products area.

Mr. Smith’s hire helps Highland broaden its investment activities to include credit sensitive structured products, officials said in a news release.

Mr. Smith has been active in the structured credit analysis area for 15 years and was at Stonehenge Financial Partners, where he worked with Mr. Sauerwein. Mr. Sauerwien joined Highland in February (see ). He was principal at Stonehenge, where he and Mr. Smith helped execute four structured-finance collateralized debt obligations since 2001.

In this newly created position at Highland, Mr. Smith will be responsible for credit risk products and risk management. Mr. Smith’s diverse experience in structured products and as a trader and manager, combined with his quantitative skills will be a benefit to Highland and its investors, said Paul Ullman, Highland’s chief executive and chief investment officer, in a statement.

Highland manages US$650 million in short-duration, high-grade, mortgage-backed securities in addition to asset-backed securities and commercial mortgage-backed securities. Those portfolios are hedged to achieve market neutrality.

SBarreto@HedgeWorld.com

Contact Robert F. Keane with questions or comments at:

bkeane@ia-mag.com.