Fortress Investment Group LLC said board member Daniel Mudd will become the firm's CEO, effective Aug. 11. Mudd was most recently president and CEO of Fannie Mae before the Treasury Department took over in September. Prior to that, Mudd (pictured) was director, vice chairman and chief operating officer at Fannie. Previously, he was president and CEO of GE Capital Japan.
Also, president and director Peter Briger Jr. and Wesley Edens will become co-chairmen of the Fortress board. Briger joined Fortress in March 2002 and is responsible for the hybrid hedge fund business. Edens co-founded Fortress in 1998. Edens has primary investment oversight of Fortress' private equity and publicly traded alternative businesses.
Hong Kong's Tribridge Investment Partners Ltd. hired John Liptak as portfolio manager for a special situations hedge fund it will launch in August. Liptak was with Bank of America Corp. from 2001 to 2009 as head of the Asia special situations group. The firm will invest in Asia, Australia, New Zealand and Japan, and use credit research to identify mispriced or undervalued bank loans, bonds, converts, mezzanine and equity securities.
Check The Deal Pipeline for updates on these Movers & shakers:
- Moelis & Co. hired Yadin Rozov as a managing director in the risk advisory group.
- RBC Wealth Management, international division, appointed Roberta Ruddy as director of global solutions.
- Former Credit Suisse Group real estate bankers David Hodes and Doug Weill formed an advisory and principal investment business.
Look for these and
more!
Continue reading below
