People on the Move – Rivendell Partners, Revolut,iCapital Network, and Gide Loyrette Nouel
Rivendell Partners, Revolut, Alpha FMC, iCapital Network, and Gide Loyrette Nouel
People on the Move – September 3, 2019
Revolut has faced pressure in recent months due to its customer service and compliance limitations. The banking startup continues to expand at a breakneck pace (more than 6 million users since its 2015 launch). Now, after a four-million pound investment from Porto, the firm plans to hire 400 people to its service and compliance departments. The announcement coincides with the launch of a new 3-D secure payment feature.
Steven Harris is leaving Neil Woodford’s investment trust. This is the third director to depart its five-person board since May. Harris, the CEO of Circassia Pharmaceuticals, will leave this month (after four years) as the company continues to face a crisis in the wake of its suspension. On Monday, the company announced that Ruffer co-founder Jane Tufnell would replace Harris. The news comes as new documents show that the suspended fund lost £113 million from unquoted stock write-downs.
Swedish national pension fund Första AP-fonden or AP1 has terminated its CEO Johan Magnusson with “immediate effect.” The 352 billion Swedish kronor ($35.8 billion) fund said that the CEO broke its “internal regulation” on trading instruments. The board appointed Teresa Isele as interim CEO as it begins a search for a new leader.
Rivendell Partners Loses Alex Ying to CDIB
Rivendell Partners had lost a series of top-level executives earlier this year. Now, the fund started by Morgan Stanley and Carlyle Group has lost yet another. Managing partner Alex Ying is heading to CDIB to lead a new buyout division.
Next up, Alpha FMC announced the appointment of Paul Tan as Director for its Asia-Pacific team. Tan spent five years at Greenwich Associates, where he focused on the APAC region. Further, Alpha FMC Asia Executive Director said Tan’s appointment would help the “accelerate the development of our market presence and scale in the region.”
iCapital Network had a busy Monday. The firm named four senior members to its executive team: New CFO Michael Kushner; new Chief People Officer Jennifer Ashley, new CMO Diane Frankenfield, and new General Counsel Stephen Jacobs. The iCapital platform currently services $41 billion in invested capital for more than 100,000 accounts.
Meanwhile, Gresham House has hired Richard Staveley as the new managing director in public equity team. Staveley was a founding partner of River and Mercantile. He has 20 years of experience in fund management. He had announced his departure Majedie Asset Management in January after six years with the firm.
Gide Loyrette Nouel appointed Caroline Lan and Jean-François Louit as partners in the shop’s M&A division. Both new hires have significant experience in IPOs and private equity operations.
Finally, Asia-focused investment firm Everstone has named Jonathan Fein as vice-president. Fein will focus on acquisitions Southeast Asia, North America, and Europe, according to an announcement on his LinkedIn page.
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