Lyxor Asset Management, a wholly-owned subsidiary of Societe Generale, has hired Michael Bernstein to develop Lyxor's relationships with US-based consultants and institutional investors, including pensions, endowments and foundations, with a particular focus on investments in the firm's funds of hedge funds offering.

He will be based in New York and report to Lionel Erdely, Lyxor's chief executive for the US.

Mr Bernstein was previously the head of North American marketing for FRM Americas, where he served as lead relationship manager and marketed hedge fund strategies to the firm's north American clients, which included several of the top pensions and endowments in the US and Canada.

Lyxor AM recently took over the assets of SG Asset Management's US alternative asset management unit, enabling Lyxor for the first time to conduct business in the US through its US-based registered investment adviser affiliate, Lyxor Asset Management Inc.

Lyxor AM specialises in alternative investments, structured and quantitative management, with assets under management of over $100 billion.