Alphabet Names Saiers Investment Chief of Volatility Fund
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Alphabet Management LLC, a New York-based hedge fund that uses options to bet on the volatility of stocks and other assets, promoted Nelson Saiers to chief investment officer eight months after he joined the firm.
Saiers, 36, helped the fund post a 26 percent gain last year and increase assets under management to $275 million from $110 million at the start of 2010, according to Jason Adler, the fund’s founder and managing member. Saiers joined from Deutsche Bank AG in July as a head portfolio manager, overseeing a team of eight traders, programmers and quantitative analysts at the 34-person firm.