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Jolyne Caruso, head of Lehman Brothers` global absolute return strategies business, to leave From Financialnews-us.com: Jolyne Caruso, head of Lehman Brothers’ global absolute return strategies business and a member of the firm's management committee, will leave the bank after less than two years in the position. No additional details were available on Caruso’s departure. Lehman has not yet named a replacement for Caruso and she did not return calls for comment.

Caruso ran Lehman Brothers' global absolute return strategies business, which is housed within the investment management division. Absolute return is the umbrella for all of Lehman's hedge fund businesses, including internally and externally-run hedge funds and funds-of-funds.

Caruso's primary goal was to diversify Lehman's hedge fund holdings. Her job was to create a strategy for Lehman's hedge business, seeking stakes in or acquisitions of other funds that appeal to high net-worth customers Lehman inherited through its 2003 buy of Neuberger Berman. Caruso joined Lehman in March 2005. Prior to joining Lehman, she co-founded hedge fund Andor Capital Management...Full article: Source

More background from Reuters: Caruso with well-known investor Daniel Benton helped to found Andor Capital, a $3 billion hedge fund group, when it split from Pequot Capital Management in 2001. Between 1992 and 2......................

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