MutualFundWire.com: Updated | A New Chief Takes Over Distribution at Hatteras

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Monday, August 5, 2013

Updated | A New Chief Takes Over Distribution at Hatteras

David Perkins just chose his new distribution chief and a new strategic relationships chief. And they're searching for a regional sales director in the West.

Today Perkins, the founder and CEO of Hatteras Funds [profile], promoted Hatteras veteran Mike Hutten to president of distribution for the Raleigh, North Carolina-based alternative mutual funds shop. Perkins also named another Hatteras veteran, Rob Brown, to the post of managing director of strategic relationships.

Hutten first joined Hatteras seven years ago as a regional director. He left in 2011 and served as a client advisor at J.P. Morgan Asset Management before rejoining Hatteras a year ago as executive director, taking over sales in the West. He's also worked at Santa Barbara Alpha Strategies, Montgomery Asset Management, Scudder Weisel Capital and Robertson Stephens & Company.

Perkins lauded Hutten's "extensive experience, knowledge and commitment to [Hatteras'] clients."

"He will be a key contributor to the firm's direction which will allow us to expand our services to advisors and investors," Perkins stated.

Hutten's return to Hatteras and subsequent promotion follow the departure last year of then-CEO Brian Jacobs, who handed the reins back to Perkins. Meanwhile, Hutten is now conducting a nationwide search to find his successor as regional director covering the West.

As for Brown, he previously served as director of sales and marketing at Hatteras. He joined in 2004 after serving as vice president of alternative strategies at Highland Associates. Perkins predicted today that Brown "will play a pivotal role in continuing to grow the Firm's strategic partnerships." Hutten confirmed, in an exclusive interview with MFWire, that Brown will be working with institutional consultants, private banks, and others "outside the traditional national accounts channels."

"He's going to be working on the biggest and the best opportunities that we see out there for Hatteras," Hutten said.

Hutten added that Nicole Parker, director of national accounts, will continue to manage relationships with wirehouses, independent broker-dealers and others.

Hutten now oversees a distribution force of 11. That team includes five regional external wholesalers and five corresponding internals, plus Brown.

Company Press Release

HATTERAS FUNDS APPOINTS PRESIDENT OF DISTRIBUTION AND MANAGING DIRECTOR OF STRATEGIC RELATIONSHIPS

Michael Hutten promoted to President of Distribution; Robert Brown appointed to Managing Director of Strategic Relationships

RALEIGH, N.C. – August 5, 2013 – Hatteras Funds (“Hatteras”), a boutique alternative investment specialist providing unique alternative investment solutions for financial advisors and their clients, has announced that Michael J. Hutten has been named President of Distribution. The announcement was made by David Perkins, CEO of Hatteras Funds.

Mr. Hutten will lead the firm's distribution initiatives and will be responsible for managing all aspects of sales, marketing and national accounts. Mr. Hutten has a broad understanding of alternative investments and brings over 20 years of financial services industry experience to the role.

In making the announcement, Mr. Perkins said, “Mike’s extensive experience, knowledge and commitment to our clients position him to help drive our business forward. He will be a key contributor to the firm’s direction which will allow us to expand our services to advisors and investors.”

Mr. Hutten originally joined Hatteras in August 2006 as a Regional Director for the West. In addition to Hatteras, Mr. Hutten has held various sales and management roles at JPMorgan Asset Management, Santa Barbara Alpha Strategies, Robertson Stephens and Montgomery Partners, the alternative investment division of Montgomery Asset Management.

“Hatteras is an industry leader in providing innovative alternative investment solutions to advisors and their clients. As demand for liquid alternative investments increases, I look forward to expanding the distribution of Hatteras’ funds. Our goal is to help clients achieve their long-term investment objectives,” said Mr. Hutten. “Hatteras is an experienced organization that focuses on and understands its clients and the challenges they face, and offers solutions that serve their portfolio needs. I am excited for the opportunity to contribute to the Firm’s future success.”

Robert Brown has been named Managing Director of Strategic Relationships. Mr. Brown has extensive knowledge of the institutional marketplace and client focused product development. Prior to this role, Mr. Brown has held various positions within the firm, including head of sales and marketing, regional sales, sales management, national accounts, and marketing management. Before joining Hatteras Funds in 2004, Mr. Brown was Vice President of Alternative Strategies at Highland Associates, where he performed alternative investment strategy research, alternative investment manager search and due diligence, and client education. Mr. Brown has more than fifteen years of alternative investment industry experience.

“Rob will play a pivotal role in continuing to grow the Firm’s strategic partnerships. Rob’s deep relationships, strong understanding of alternative investments and leadership experience bring a unique perspective to the role,” said Perkins. “Rob’s desire to align investment platform solutions with advisor and investor needs is at the center of our commitment to provide access to alternative investment solutions."

Hatteras Funds has initiated a nationwide search for a Regional Director for the West. For more information, please contact Jessica Sherburne at 919.803.1287 or jessica.sherburne@hatterasfunds.com.

About Hatteras Funds
Hatteras Funds is a boutique alternative investment specialist dedicated to providing unique alternative investment solutions for financial advisors and their clients. Founded in 2003, Hatteras provides retail investors with access to the same sophisticated investment approach and superior management talent as the largest institutions. The Raleigh, N.C.-based firm manages $2 billion in alternative investment strategies for a broad range of institutions, endowments, pensions and high-net-worth individuals. For more information, please visit hatterasfunds.com.

Investors should consider the Funds’ investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about the Funds and may be obtained by clicking here or calling 877.569.2382 for the Hatteras Alternative Mutual Funds and 866.388.6292 for the Hatteras Core Alternatives Fund. Read it carefully before investing.

No investment is risk free, loss of principal is possible. Alternative investments involve specific risks that may be greater than those associated with traditional investments. You should consider the special risks with alternative investments including limited liquidity, tax considerations, incentive fee structures, potentially speculative investment strategies, and different regulatory and reporting requirements. There can be no assurance that any investment will meet its performance objectives or that substantial losses will be avoided. ??Securities offered through Hatteras Capital Distributors, LLC, member of FINRA / SIPC, 8540 Colonnade Center Drive, Suite 401, Raleigh, NC 27615-3052. Hatteras Capital Distributors, LLC is affiliated with Hatteras Investment Partners, LLC, Hatteras Capital Investment Management, LLC and Hatteras Alternative Mutual Funds, LLC by virtue of common control/ownership.