Hedge Funds

Sandelman plugs long-time right-hand man into COO post

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Sandelman Partners has reassigned its chief operating officer function to two existing staffers following the departure of former COO Robert Shustak just one month following the firm's launch.

Lou Terlizzi, former COO of Banc of America Securities, and chief financial officer Chris Zaback now share the role of COO.

Shustak left in August to join Strategic Value Partners, the New York hedge fund group headed by Victor Khosla, where he'll oversee finance, legal and operations for the $2 billion fund, which is focused on distressed debt and high-yield strategies. Shustak could not be reached. Sandelman said the departure was