Zurich Financial Services, the Swiss insurer, has recruited both internally and externally to put together a management team for its New York-based alternative asset management arm.
Zurich Alternative Asset Management team will look after Zurich's existing portfolio and source new investments with $5 billion of capital committed to funds for buyouts, venture capital, growth capital, mezzanine financing, U.S. real estate and hedge funds.
Ron Cacciolab will be moved within Zurich to become chief investment officer for the group. Louis Rubino is also shifting internally to take on the role of chief operating officer. Chris Halabi has been promoted to spearhead the group's U.S. real estate effort.
Jim Kester will manage Zurich's private equity team after having co-led Allianz Private Equity Partners. David Tsung was formerly a partner at Alternative Investment Group and will now take charge of the hedge fund manager selection and research team. Madanda Machayya joins from Starview Capital Management and will be the head of hedge fund quantitative strategies.
Zurich, Switzerland-based Zurich Financial Services Group was founded in 1872, and has a network of subsidiaries and offices in 120 countries throughout North America, Europe, Latin America, as well as the Asia pacific region.