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The firm, a division of BlueCrest Capital Management, has brought in Paul Griffith, previously a credit specialist at Merrill Lynch, as a credit portfolio manager. Before then, Mr Griffith worked for BlueMountain Capital as a specialist credit manager.

Robert Marsden joined Alignment as portfolio manager responsible for external investment strategies.

Mr Marsden was previously at Mercer, where he spent 10 years as both head of fixed income manager research and, more recently, as lead portfolio manager of Mercer Investments' fixed income portfolios and the Diversified Alpha fund.

Michael Dorgan joined Alignment in May as an execution trader responsible for implementing internally managed investment strategies. He joins from Glencore UK's multi-strategy credit hedge fund division, Asteri Capital.

Previously, Mr Dorgan worked in credit derivatives at Bank of America and the Treasury department at Bank of Ireland.

Steve Ilott, founding principal at Alignment, said the company was "delighted" to have built up such a strong team and was now "extremely well-positioned" to take advantage of fantastic opportunities in the market.