Dallas-based Highland Capital Management, which along with its affiliates has roughly $23 billion in assets under management, hired Brian Rice as managing director.

Based in the firm's New York office, Rice reports to Clay Shumway, head of business development.

The new hire is responsible for business development mostly in the U.S. and Europe, including developing strategic relationships with institutional investors, consultants and wealth management platforms.

Rice has 15 years of experience offering alternative investment solutions to investors globally. Before Highland, he was a partner and managing director at asset manager  Investcorp International where he focused on U.S. and European business development activities from its New York office. 

Prior to Investcorp, he held similar positions at Trust Co. of the West and Atlantic Investment both in New York. He began his career at Deutsche Bank in New York where he spent roughly 10 years as managing director and global head of sales for the absolute return/hedge fund practice.

"Brian's blue-chip experience is a tremendous asset to our growing global team and we are confident that he will create value for both Highland and our investors," Shumway said.

"What attracted me to Highland is its reputation and culture for excellence," Rice said. "I believe the firm is well positioned and has a relevant and diverse set of alternative investment solutions to match the growing needs of investors."

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