Lyxor Asset Management has hired Robert Picard as US head of managed account development. 

Picard is based in New York and reports to Lionel Erdely, chief executive of Lyxor US.

Prior to joining Lyxor, Picard was senior adviser to Navigant Consulting's financial institutions restructuring solutions team and active in advising emerging hedge funds.

Earlier, he was chief investment officer and head of hedge fund research at Optima Fund Management overseeing USD6.5bn of hedge fund investments, and a managing director at The Carlyle Group where he built and managed an institutional platform for alternative investments.