Carne Global Financial Services Group, an independent advisor to the European hedge fund and traditional fund management industries, has announced the launch of alternative investment and
Carne Global Financial Services Group, an independent advisor to the European hedge fund and traditional fund management industries, has announced the launch of alternative investment and wealth management technology and operational consultancy divisions in London and the recruitment of Sunil Chadda and Phil Kitto.
Carne says the new divisions add technology capabilities to the group’s existing operational services and capitalise on its established presence within the fund management industry, building on its track record in providing tailored solutions, services and products for alternative asset managers and service providers.
Chadda joins Carne as head of alternative investments with a primary focus on developing and driving the firm’s alternative investment technology and operational offerings to players such as hedge funds, funds of hedge funds, fund administrators, prime brokers and private equity managers.
He joins from London-based financial systems consultancy Citisoft, where he was head of the hedge funds and derivatives practice for the past three years. Chadda previously spent 15 years with Schroder Investment Management, where he led the fixed income fund management desk IT team, and has expertise in financial markets, software, systems evaluation and implementation and operational procedures and controls after a total of nearly 22 years in the UK financial services industry.
Kitto also joins Carne from Citisoft to lead the new global wealth management and private client division. He will be responsible for the development of the firm’s capabilities with regard to technology and operational offerings of wealth managers and private banks, outsourcing providers and software vendors, after a career including spells with UBS, Baring Asset Management and Mercury Asset Management.
Chadda and Kitto join Aymeric Lechartier, who joined Carne from Merrill Lynch earlier this year as head of business development in London. The firm, which now advises more than 100 clients that oversee more than USD200bn in assets and has more than 40 staff in Dublin, London and Luxembourg, offers expertise in fund establishment, directorship programmes and fund management operational and compliance services.
Chief executive John Donohoe says: ‘The entire fund management industry – both traditional and alternative – is experiencing high demand for expertise in risk management and technology, particularly with the convergence of those industries with wealth management. We are fortunate to be able to meet this demand with the addition of such highly respected industry figures as Phil Kitto and Sunil Chadda.’
