Tom Humphrey was named president of Gramercy Funds Management, an emerging markets investment firm that manages $5 billion in assets.
The position is new, said a news release Thursday.
Mr. Humphrey will be responsible for the "implementation of the firm's commercial and capital formation strategy for growth," the news release said. He will also be a senior partner and serve as a member of the firm's management committee.
In addition, Bill Foley joined Gramercy as a managing director and senior member of the business development team.
Mr. Foley will be responsible for "helping build out the firm's strategy in diversifying its capital base and strategic initiative while expanding the firm's family office client acquisition plan," the release added.
Mr. Humphrey will report to Robert Koenigsberger, managing partner and chief investment officer, and Scott Seaman, senior partner and chief operating officer, a Gramercy spokesman said in an email.
Mr. Foley will report to Mr. Humphrey.
The spokesman added that Mr. Foley will not be succeeding anyone. “There are multiple managing directors at the firm,” he said. “Mr. Foley will be an addition to the current business development team and his functional title will be managing director.”
Messrs. Humphrey and Foley were previously managing directors at BTIG. Officials at BTIG could not be immediately reached for further details.
