WestLB has combined its New York-based portfolio management unit with WestAM, the German bank's global asset management business.

The 21-person investment team is now operating as a registered investment advisor under the trade name Brightwater Capital Management. The group continues under the leadership of Managing Director Jim Galowski, who took over the portfolio in March 2002. Galowski has held senior trading and management positions with WestLB since he joined the firm in 1990.

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