ADI, the French alternative fund manager with EUR5.83 billion (USD7.2 billion) under management, has hired Paul Besson, head of volatility and convertible arbitrage at CCR, a subsidiary of Commerzbank with EUR200 million (USD247 million) under management. Arnaud Lagarde, previously at BNP Paribas in Paris, will replace Besson at CCR.
Besson, who joins ADI at the end of October, will be responsible for the quantitative research department focusing on converts, credit and volatility. This is a new position created as a result of internal reorganization at ADI. The work will include developing new quantitative processes, generating ideas on those markets, testing strategies and applied in-depth research, according to Besson. In his new role, he will report to Marie-Laure Lavenir, responsible for both quantitative and fundamental analysis. Lavenir could not be reached by press time.
