New York-based Advent Capital Management, an investment advisor specializing in convertible, high yield and equity strategies offered through long only, hedge fund and NYSE closed-end mutual fund products, has hired Osbert Hood, chief executive officer at Pioneer Investments USA’s, as its chief operating officer.

Ed Johnson, Advent’s current COO, will be leaving Advent due to personal and family reasons after transitioning his duties to Hood, who served as Pioneer’s chief from 2003 to 2006. Previously, he served as chief executive of MacKay Shields, an international institutional asset manager.

“Osbert and I have had a professional relationship for many years, and we share a similar vision and commitment to capitalizing on Advent’s strengths to manage and grow the firm,” stated Tracy Maitland, Advent’s chief investment officer.

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