New York-based alternative asset manager Cinctive Capital Management has hired Michael Haddad for its newly created position of deputy CIO.
Haddad had been the interim CIO for the New York City Comptroller’s Bureau of Asset Management, which oversees the New York City Retirement Systems’ $248 billion investment portfolio. Prior to that, he was the bureau’s deputy CIO and oversaw all asset classes, as well as asset allocation.
“Michael is well known for his approach to risk management and strategic asset allocation, which will help to complement our recently added quantitative and macro strategies,” Larry Sapanski, co-founder and co-CIO of Cinctive, said in a release. “He will be a terrific resource as we continue our focus on further expanding our investment teams and strategies.”
Sapanski added, “Michael is well known for his approach to risk management and strategic asset allocation.”
Before joining the New York City Comptroller’s office in 2016, Haddad had worked in the financial industry for three decades, including as a U.S. Treasury trader and head of Canadian fixed income at Morgan Stanley as a senior managing director at Caxton Associates; and as a senior portfolio manager at Soros Fund Management.
Haddad has also served on the Treasury Department’s Treasury Borrowing Advisory Committee and the New York Federal Reserve-sponsored Treasury Market Practices Group. He earned an MBA from the Kellogg School of Management at Northwestern University and a B.S. in engineering management from Southern Methodist University.
“I am delighted to join Rich, Larry and the team at Cinctive,” Haddad said in a release. “Our sensibilities are well aligned given the firm’s approach to risk management and I look forward to contributing to the solutions Cinctive offers clients as well as helping to execute on its growth strategy.”
According to the firm, the addition of Haddad follows its decision to add long and short systematic trading capabilities a few months ago. It had previously expanded its quantitative capabilities with the hiring of systematic quantitative investment management company Olympiad Research as a sub-adviser.
Cinctive also added six portfolio managers and five analysts since the beginning of the year, increasing its investment professional team to 57.
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Tags: alternative asset manager, Bureau of Asset Management, Cinctive Capital Management, CIO, deputy chief investment officer, Michael Haddad, New York City Comptroller, New York City Retirement Systems