Highland hires to support move into credit-sensitive structured products

Highland Financial Holdings, a $650 million hedge fund manager in New York, has hired Dean Smith as senior vice-president to oversee the fund's expansion to credit risk products.

Highland, which won Risk’s hedge fund manager of the year award this January, mainly focuses on high-grade, low-duration mortgage-backed securities and asset-backed securities but hired Smith to be responsible for credit risk products as the company expands to credit-sensitive structured products.

Smith joins from Stonehenge Financial Partners, an investment banking and advisory firm he founded in 1996. Before this, he was co-head of the asset-backed structured finance group at Nomura Securities International. Smith was previously with Donaldson Lufkin & Jenrette, where he managed the firm's commercial and non-agency residential mortgage-backed securities. Smith’s appointment reunites him with Richard Sauerwein, his partner at Stonehenge, who joined Highland in February 2004.

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