| Michael Staveley |
Eden Rock Capital Management, the London-based fund of hedge funds firm, has hired Michael Staveley to be its new chief investment officer. Staveley, who was previously global head of credit markets at Commerzbank, took over the role last week from Santo Volpe, who remains as Eden Rock’s chairman, said Edward Horner, managing director. Staveley and Volpe were both out of the office and could not be reached by press time. Staveley left Commerzbank last year. He began talking with Eden Rock about a possible joint venture, but it became clear that he would be a good fit for the cio role, said Horner. Volpe, who is an Eden Rock co-founder, has become increasingly involved with Heather Partners, a single-strategy asset-based lending fund seeded by the fund of funds firm in March 2005. “He was not able to be 100% focused on the Eden Rock...business and we need our cio to be 200% focused,” said Horner, explaining the need for a successor to Volpe.