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American Independence Financial Services, the New York investment manager, has bolstered its large cap value strategy with a new hire.

Effective 29 June, Richard Baird assumes the role of principal portfolio manager for the large cap division, including the American Independence stock fund.

Baird has managed equity and fixed income portfolios for high net worth clients and mutual funds for the last 25 years, the firm said. His background includes roles as senior vice president for Zions Bank and chief investment officer for Western National Trust Company. He also founded Wind River Advisors, which was acquired by Yellowstone, a registered investment advisory firm, in 2009. 

In his new role, he will be joined by Chris Jacobs as assistant portfolio manager. Jacobs joined Yellowstone in 2010 and supports Baird with equity research and analysis. 

American Independence Financial Services provides advisory services to 16 funds and separately managed accounts, comprising $1.4 billion in assets under management. 

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