People Moves

Elm Ridge names new COO amid losses


Credit Suisse Asset Management's Mike DeAddio will join Ron Gutfleish's firm in January.


 Mike DeAddio (Photo: LinkedIn)

Elm Ridge Capital Management, Ron Gutfleish's long/short equity firm, will have a new chief operating officer to start the new year.

Mike DeAddio will join the Irvington, NY-based shop on January 2, according to a letter sent to investors yesterday. He had been the COO of global alternatives at Credit Suisse Asset Management since 2009, where he was "responsible for overseeing a portfolio of businesses totaling $150B in AUM with over 400 front office staff across 12 locations and operating over 1,000 investment vehicles across 5 legal jurisdictions," according to the Elm Ridge