More fund giants are starting to sing the song of alts.

For example, Federated Investors has hired Michael Dieschbourg to head the company's alternatives/managed-risk investment group.  Dieschbourg will serve as managing director and senior vice president and will report to Stephen Auth, chief investment officer for global equities.

He most recently served as senior managing director at dynamic hedge fund shop Broadmark Asset Management.  He is the former chief executive officer and global head of environmental, social and corporate governance for Global Currents Investment Management.  In addition, Dieschbourg spent 18 years in institutional consulting, including five as national director of Smith Barney Consulting Group.

The new alternatives/managed-risk group, which Dieschbourg will lead, combines two existing teams that have been developing new products in the managed-risk space.

The full press release can be found here. 

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