Vision Capital Advisors LLC, a New York investment advisory firm, has announced the hiring of Andrew Lutz, a 13-year veteran in institutional fixed-income trading and investing, to be a managing director.

Mr. Lutz is to fill a new post as head of all fixed-income initiatives at Vision and report to Adam Benowitz and Randy Cohen, the firm's co-founders, it said on Wednesday.

He joins Vision Capital after nearly 17 years at Susquehanna International Group, a privately held securities trading and investment firm.

Since 2004, he headed Susquehanna's fixed-income and structured products businesses. Earlier, he worked in its municipal bond business from 1995, ultimately heading the department. He joined the firm in February 1992, was an equity trader, and worked in the private placement group.

Vision was established in 2005 and is a Securities and Exchange Commission-registered investment adviser. It is principally engaged in small-company finance through private funds that make structured investments in fundamentally strong businesses.

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