Hedge fund manager Arrow Capital Management, LLC today announced the appointment of John DeRaimo to the newly-created role of Chief Operating Officer.

John will assume responsibility for the firm’s operations, including its strategic growth initiatives. He will report to Co-Managing Members Alex von Furstenberg and Mal Serure. John was previously a Senior Analyst at Arrow.

“John’s appointment reflects Arrow’s commitment to building upon the strong operational infrastructure established by our CFO, Amy Wolf. Since joining our team in 2008, John has developed a thorough understanding of our business practices and has made contributions to all aspects of Arrow, making him the natural candidate for the role of COO,” said Alex von Furstenberg.

Prior to joining Arrow, John worked for Landmark Advisors, LLC as a member of its investment committee. At Landmark, John was responsible for evaluating alternative investments for inclusion in Landmark’s portfolios including conducting all aspects of operational due diligence. He began his career in Goldman Sachs’ Asset Management division. He earned his BS magna cum laude from New York University’s Stern School of Business.

Mal Serure added, “In his new role, John is tasked with ensuring Arrow has the best processes, systems and controls in place as we continue to grow. Importantly, his mandate will enable all members of our team to focus on their respective areas of expertise.”

Arrow Capital Management

Arrow Capital Management is an alternative asset management firm focused on event-driven value investing, primarily in global public equities. The firm is co-managed by Alex von Furstenberg and Mal Serure and is an SEC-registered investment advisor. As of March 31, 2010, the firm had approximately $475 million of assets under management.