The US subsidiary of EIM, the $15bn (€9.4bn) Swiss fund of hedge funds, has tapped a 15-year JP Morgan veteran for a new role to oversee risk management in line with an expansion of its US business as companies ramp up controls following the market downturn.

Paulo Peres will be responsible for risk and portfolio risk management issues such as counterparty risk. He will report to the board of EIM USA.