Today,, Inc. announced that Marcel Herbst, formerly of Harcourt AG, has joined the management team as managing director of its wholly owned subsidiary Weston Capital Management LLC, which has more than $1 billion under management.

In his new position, Herbst will lead global distribution efforts, forging strategic partnerships and overseeing business development. He will report directly to Weston Capital CEO Albert Hallac.

Hallac said, “Marcel’s tremendous experience will start immediately to make a huge contribution to important strategic projects currently under way. He has the know-how to positively advance our growth.”

Herbst joined the firm after nearly a decade at Harcourt AG as managing director of Harcourt’s US operations and a member of the board. He was also executive director of the Harcourt Group.

Harcourt manages a fund of hedge funds with approximately $4.5 billion in assets. It has a strategic relationship with Weston Capital, contributing its due diligence expertise to the operations of the Weston Capital Partners Fund III, an incubation fund. Harcourt is majority owned by Vontobel Group, the $70 billion Swiss banking group.

Herbst stated, “This is a great time to be engaged in seeding new funds and I believe that Weston Capital is perfectly positioned to play a significant and growing role in this business. I look forward to working with Albert and his team on this and other initiatives.”

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