Hedge Funds

Sandelman hires Citadel's Pascutti


Former Bank of America executive Jon Sandelman's $1 billion multi-strategy hedge fund launch slated for July 1 has attracted several industry heavyweights to its staff.

Citadel's Mike Pascutti will be portfolio manager of the relative value portion of the fund and Wachovia's Bill Brown will manage the structured finance area.

On the business side, Sandelman has hired chief operating officer Robert Shustak, formerly the COO of Post Advisory group, but more famously known as CFO at Long-Term Capital Management.

At Bank of America, Sandelman was president of the securities unit.