Former BT head of alternative investments Richard Keary has resurfaced as chief investment officer at MFS Alternative Investments.
Keary will be responsible, along with chief executive Richard Loury, for growing the group's interest in the domestic hedge funds industry, building its product suite and increasing funds under management.
"Creating this CIO position represents a significant milestone as we continue to establish our credentials and capabilities in the Australian hedge funds and alternatives sector," Loury said.
MFS' strategy is to obtain significant but minority equity positions in alternative investment managers. In November, the group acquired the right to 40 per cent of Vantage Asset Management, while last month it acquired 40 per cent of Fortitude Capital.
Keary, who won the award for the best individual contribution to the Australian hedge fund industry at the 2006 hedge fund awards, has been at BT since 1997 when it bought Rothschild's Australian asset management business.
At BT he was responsible for the creation and management of the BT Total Return Fund.
