KBW hires portfolio manager

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KBW Asset Management has hired John Wimsatt to serve as managing director and portfolio manager for two specialist financial-services hedge funds. The New York firm manages $197 million in hedge fund assets.

Wimsatt was most recently a portfolio manager and analyst at Levin Capital Strategies, a $2.5 billion alternative asset management firm, where he focused on financial stocks. At KBW, he will report to CEO Peter Roth.

Wimsatt replaces Michael O’Brien, who is retiring from KBW after eight years at the firm.

Wimsatt will manage KBW Financial Services Fund, which invests in the securities of U.S. financial-services companies with