Fridson, BNP Unveil New Venture
Others joining the firm include Richard Hollander and Tom Shandell.
May 13, 2008
BNP Paribas' asset management business on Tuesday said it has teamed up with Marty Fridson, the highly regarded corporate debt strategist, to create Fridson Investment Advisors, an investment management business focused on corporate credit.
Fridson will serve as chief executive and chief information officer of Fridson Investment Advisors, which BNP says will be a "research-driven" investment manager.
Most recently Fridson was running an independent research company called FridsonVision, where he focused solely on high-yield strategy. Prior to that he was at Merrill Lynch, where his credit analysis caught the attention of investors.
Others joining the firm include Richard Hollander and Tom Shandell. Hollander will serve as chairman of the board of directors and Shandell will be chief portfolio manager. BNP Paribas Investment Partners will serve as a global partner for Fridson Investment Advisors.
"We want to develop a company that challenges the transparency issues in the investment world and offers clients more access and more knowledge about our strategy and investment process,” Fridson said in a statement.
Hollander, co-founder of Fridson Investment Advisors, has built several asset management companies and Shandell is a co-founder and partner of GoldenTree Asset Management. At GoldenTree, Shandell helped grow assets under management from $70 million to over $10 billion. Prior to joining GoldenTree, Shandell was at Bear Stearns, where he was a high-yield analyst.
Richard Schweitzer will be Fridson Investment Advisor’s chief operating officer and chief financial officer. He recently served as COO and CFO of Metropolitan West Financial.
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