EIM Hires Jan-Erik Frogg as President of Swiss Firm's Executive Committee

EIM SA, Arpad Busson’s investment firm, said it hired Jan-Erik Frogg as president of its executive committee.

Frogg starts at Nyon, Switzerland-based EIM on Sept. 1 and will report to the board of directors, the firm said in a statement today. He also will be responsible for institutional sales under Nicholas Verwilghen, who runs marketing and business development.

Frogg in June left Union Bancaire Privée, where he was head of its hedge-fund advisory business.

EIM, which Busson started in 1992, invests client money in hedge funds. EIM and UBP were among the firms that had invested with Bernard Madoff, the New York-based money manager who is serving a 150-year prison term for running the largest-ever Ponzi scheme. Funds-of-funds lost an average of 21 percent in 2008 before returning about 11 percent last year, according to Chicago-based Hedge Fund Research Inc.

“Following the events of 2008, we anticipated that our industry would change significantly,” Busson said in the statement. “EIM has, over the past two-and-a-half years, undertaken major projects that are now bearing fruit.”

The firm has “begun making strategic hires to further strengthen our team,” he said.

Frogg was head of alternative investments at Geneva-based UBP until last year. He joined the firm from Agora Capital Management Ltd. in Geneva in 2004 and before that worked at Goldman Sachs Group Inc. in London.

Funds-of-funds lost 0.4 percent this year through August, according to Hedge Fund Research.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net;

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