In a clear sign it is beefing up its asset management business to drive growth going forward, Bear Stearns Asset Management announced three key hires this week.

Margo Cook joins Bear Stearns Asset Management as head of institutional business, where she will lead and build the group’s long-only business globally. Cook was previously executive vice president, chief investment officer and head of institutional asset management at Bank of New York.

James Barrett has been appointed global head of sales, responsible for global sales and servicing at Bear Stearns Asset Management. He was previously a managing director of institutional sales and marketing at Bank of New York.

Bill Best will serve as the new head of global hedge fund sales. Previously, Best was a managing director of business development at VegaPlus Capital Partners.