Galtere, the New York-based alternative investment firm, has hired Werner Schuenemann to manage its newly-launched European arm, which is based in Zug, Switzerland.

Schuenemann's role is the newly-created one of international head of business development and investor relations, and he is charged with managing and developing the firm’s institutional investor base in Europe, the US, the Middle East and Asia. New York will however continue to be where Galtere’s investment management, trading and research operations are based.

Schuenemann's prior career includes sales and distribution posts at several alternatives firms, with Swiss Alpha and Pamplona Capital being his most recent employers. He has also served in senior sales and directorial roles at the likes of JP Morgan, Morgan Stanley and UBS.

“Werner’s appointment and the establishment of an international distribution presence is a clear signal of our ambition to move Galtere to the next level. We firmly believe that the business is poised to grow even further over the next few years,” Renee Haugerud, Galtere’s founder and chief investment officer said.

“We are creating an international environment and business infrastructure that will enable us to meet this challenge, and Werner and the team will be instrumental in helping us to get there.”

Galtere currently has around $1 billion in assets under management.