Common Sense Investment Management has poached another Société Générale executive as it continues to rebuild after the arrest of its founder in a prostitution sting and the loss of most of its clients.
Common Sense, a fund of hedge funds based in Portland, Oregon, is set to announce the appointment of Marc Lorin as its president. Lorin was a senior director at SocGen derivatives brokerage unit Newedge, where he worked from 1994 until earlier this month (the French bank finalized the acquisition of Chicago-based Newedge in May).
"Common Sense—our brand and product suite—is evolving, leveraging from our 23 years of history and simultaneously looking to the future of alternative investments. The management team has been structured to underline new governance; we are hiring, and will continue to hire, industry veterans," new Common Sense CEO Jonathan Gane, another Newedge veteran, said in an email addressing Lorin's new role.
"Our newly formed advisory board will provide guidance as we expand our product offer and build bespoke solutions for institutional clients. We look forward to announcing more news in the coming months."
Lorin and his team were responsible for selling Newedge products to hedge fund managers and institutional investors—including funds of funds.
"Having worked with Marc for a number of years as a colleague at Newedge, we are very excited for him, and his future at CSIM," Duncan Crawford, global head of alternative investment solutions at Newedge, said in an email. "He joins a strong leadership team there and the firm appears poised to do some exciting things."