Capital Z Asset Management, a New York hedge fund manager, said it has hired James M. Marrone Jr. to be a partner and chief marketing officer.

Mr. Marrone, who will also be a member of Capital Z's senior executive team, is to run sales, marketing, and product development, the company announced Wednesday.

He was a senior managing director at Bear Stearns Asset Management, where he had worked for 10 years.

Previously, he was director of marketing at Capital Management Associates where he started its distribution effort that was focused on a variety of institutional channels.

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