My user wants to create a hierarchy similar to the following:

He (owner) can see everyone's records.
He wants some account type called Manager where the Manager can see her records, as well as all users UNDER her, but not see his.

Then he'd like to have multiple managers who each have their own user-groups.

Is this possible? My thought is NO because there are currently only two account types in Sugar CE.. Regular and Admin. There doesn't appear to be any hierarchy structure able to be setup. Has anyone else conquered this issue yet?