Deerfield Capital Management LLC, a fixed-income asset management firm, announced that Luke Knecht has joined the company as a managing director. In connection with the hiring of Knecht, Deerfield has acquired Dresdner RCM Global Investors' Dynamic Duration Management product, a separate account with approximately $140 million in assets under management that models a dynamic fixed income trading strategy.
Knect was with Dresdner for five years as managing director of global fixed income. In that position, he headed Dresdner's U.S. fixed income business and served as co-head of its global fixed-income asset management business. Knecht was previously CEO of CSI Asset Management, Inc.
Knecht will be responsible for integrating the Dynamic Duration Management product into Deerfield's business mix, as well as to help develop new relationships with institutional investors. He will report to Scott Roberts, president of Deerfield.
Deerfield has approximately $5.5 billion in assets under management.