Minneapolis based Groveland Capital has hired David Cragg as chief operating officer and chief financial officer.

Cragg has extensive experience managing the operations of both hedge fund and mutual fund products.

He was chief operating officer and chief financial officer of The Leuthold Group from 1999 through August 2009, during which time he also served as chief compliance officer from 1999 to 2005.

Cragg brings a background that includes launching six mutual funds and seven hedged funds, and overseeing multiple SEC examinations.

Prior to Leuthold, Cragg supervised operations for Piper Trust Company from 1993 to 1999.

“We are pleased to welcome Dave to the Groveland team,” says founder Nick Swenson. “His extensive experience will be an asset to us as we continue to enhance Groveland fund accounting and portfolio management systems and further institutionalise our platform.”