Federated Investors has hired a seasoned equity manager for the No. 2 job in its new global investment unit in New York.

Drew J. Collins, 38, joins the Pittsburgh-based company as senior vice president. He came from Arnhold and S. Bleichroeder, an investment bank in New York, where he managed international equity portfolios for institutional clients.

Henry A. Frantzen, executive vice president and head of global investing for Federated, said Mr. Collins will play a key role in the new unit, including serving on the investment committee and overseeing the equity, fixed-income, and quantitative areas.

"Drew and I share the same investment management style - growth at a reasonable price," added Mr. Frantzen, who worked with Mr. Collins during the mid-1980s at College Retirement Equities Fund.

Federated expects its global investment unit, launched in April, to grow to 20 portfolio managers and analysts by fall.

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