People moves

Arden snares Permal’s McDonald

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Arden Asset Management, a New York-based fund of funds with $8 billion under management, has hired Coby McDonald from the Permal Group, where he was vice president global consultant relations within the global institutional team.

At Arden, McDonald has been named managing director and global head of client service and development. After a handover period he will succeeded Stephen Cordy, who has had this role and is leaving the firm to pursue other opportunities after eight and a half years.

McDonald was previously in similar roles at EIM and BlackRock.