The 20 Rising Stars of Hedge Funds 2008

million in assets. The firm primarily has been focused on foreign exchange opportunities, but it plans to launch a multi-strategy fund within the next couple of months, he noted. Whelan said his greatest challenge was learning the confines of a large pension system, the Ontario Teachers’ Pension Plan, for which he was a portfolio manager from 1998 to 2002. He joined the pension plan to rebuild its alpha generation and proprietary trading unit within the foreign exchange division. In 2002, he left Ontario Teachers to cofound PARC Capital Management, a private money management firm specializing in alternative investment strategies. In 2004, Whelan re-joined the Ontario Teacher’s Pension Plan and his trading portfolio incorporated global macro, technical and the implementation of several systematic models. He built and managed a fund-of-funds program allocating to alternative investments in the commodity, global macro and foreign exchange arenas. He also was responsible for risk management and execution for the group. Whelan began his career in 1988, when he joined Burns Fry on its securities lending desk. There, he was responsible for producing alpha within the firm’s securities lending portfolio. In 1990, he left to join Toronto Dominion Bank’s foreign exchange division, where he worked his way up to become the youngest chief dealer at the firm. In 1993, he was hired away by Canadian Imperial Bank of Commerce’s foreign exchange division to rebuild their currency trading team, a position he kept until joining Ontario Teachers. Whelan predicted continued growth in capital inflows for the hedge fund industry. The need for providing pensions with investment options is not going away, he said, adding “Alternative investments will be a significant part of that.” As a result, he plans to be with King’s Crossing in 10 years, continuing to build the firm. MAY 2008 20. DOUG WURTH Global Head, Alternative Investments Group JPMorgan Private Bank, New York Age: 42 Education: University of Notre Dame (B.A. in Philosophy); University of Virginia School of Law (J.D.) Mentor: Jes Staley, Chief Executive Officer, JPMorgan Asset Management Wurth joined JPMorgan in 1997 in the bank’s mergers and acquisitions group before switching in 1999 to the private bank, which supervises more than $35 billion in hedge fund, private equity and real estate investments for ultra high-net-worth clients. Since assuming leadership of this 52member team of professionals in 2005, he has expanded the bank’s capabilities across Europe, Asia, Latin America and the U.S. while tripling its hedge fund assets to $21 billion. Last year, Wurth’s team was responsible for $10 billion of new hedge fund inflows, which equates to roughly 4% of the entire industry’s inflows. He said one goal for the business is to stay strong by investing $500 million in capital per month. “How do you get to that point?” he asked. “It’s really about bringing in assets.” Wurth said he is proud of having built a business over the last two years that can withstand risks. Risks are no longer theoretical in the industry and will continue to grow, he noted, adding that risk management plays into the business. One aspect of risk management is to address concerns and “get people comfortable even though those concerns exist,” Wurth said, adding that his philosophy is to be direct in doing so. “As long as you’re open and prudent with clients, a lot of those fears go away,” he said. “We don’t just offer hedge funds; we offer an approach to investing.” In addition to heading up the private bank, Wurth serves as a board member of Highbridge Capital Management and is the catalyst behind JPMorgan’s flagship Alternative Investment Summit, now in its fourth year of uniting the private bank’s global clients with leading alternatives managers. Prior to joining JPMorgan, he served as general counsel to former Senator Bob Dole’s 1996 presidential campaign. Before that, from 1992 to 1995, he practiced law at Skadden, Arps, Slate, Meagher & Flom. Wurth described his job as one in an industry that is constantly changing. “I think that describes a perfect work environment,” he said. Regarding his plans for the next decade, he added,“I would love to stay within this industry.” i 20 . DOUG WURTH HEDGE FUND RISING STARS 33

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The 20 Rising Stars of Hedge Funds 2008 Contents Looking Great for 2008 A Matter of Supply and Demand Return Performance Highlights Challenging Period 20 Rising Stars of Hedge Funds Mentors' Page

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