Hedge Funds

NewSmith opens U.S. office

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London-based NewSmith Capital Partners is opening its first office in the United States and has hired two senior Merrill Lynch executives as part of the effort. The new office, which is expected both to expand NewSmith's business further into North America and better serve existing clients, opens in New York on September 15.

Jefferson Hughes, a veteran of Merrill Lynch, will head up the New York office. Hughes joined Merrill in 1972 and most recently served as chairman of Merrill's global markets and investment banking business in Latin America and Canada. He was also head of global relationship