HighWater, a boutique corporate governance services firm based in the Cayman Islands, has expanded with a New York-based principal.

Matt Auriemma, who will be based in New York, joins as a principal of HighWater, providing independent director services to investment funds, mostly hedge funds and other alternative investment vehicles.

“HighWater has an impeccable reputation for corporate governance in the industry and an impressive client portfolio including many of the world’s top alternative investment managers” says Auriemma. “My experience complements that of the team and I am looking forward to contributing to the future growth of this impressive firm.”

Auriemma was most recently senior managing director and global head of operational risk management at UBP Asset Management. He was a member of the Manager Selection Committee where he had veto rights over all alternative investment allocations. Before joining UBP in 2009 to restructure the operational risk process, he developed the hedge fund operational risk platforms for Barclays Wealth, Barclays Global Investors and Bank Julius Baer.

Gary Linford, managing director and founder of HighWater, says: “New York continues to be a major hub for Cayman Islands hedge funds, and being close to our markets is a key component of our business model. We are increasingly being asked to consider appointment to long-established multi-billion dollar New York investment managers who operate the typical partnership structure where the general partner to the master fund is the investment manager and investors are not afforded any independent director oversight. Matt’s blue chip experience in corporate governance makes him the ideal person to represent HighWater in New York and win appointment to such structures. We are delighted to have him on board.”