Validus, a specialist financial risk advisor to Alternative Investment Funds and Corporates across the globe, has opened a new office in Toronto.
First hire Josh Macdonald (previously at Ontario Teachers’ Pension Plan) has joined in the capacity of Financial Risk Management Analyst, working closely with the London team in assessing currency exposures for new clients as well as taking an active role in hedging strategy design. Three more employees are expected to join him shortly. Board advisor John Glover will continue to add valuable insight armed with more than two decades of experience in financial markets in both Canada and the UK. Directors Kevin Lester, Francois Scheepers and Haakon Blakstad will oversee the expansion of the North American office.
“A significant increase in volatility in both currencies and commodities over the past nine months has led to high demand for independent market risk advice from funds and corporates in both Canada and the US,” says Haakon Blakstad, Director and Head of Commercial Development at Validus. “We decided to increase our presence in the region to better meet these demands, and this also constitutes a natural expansion of our fast-growing business. Due to the exceptional talent of our people we are already seeing that new clients in North America are echoing the sentiment we have from our existing and longstanding customer base; that we add real and tangible value to their business in terms of structured and transformational risk management”.
“We are very pleased to work with high value businesses like Validus Risk Management to establish their presence in Ontario,” comments Aaron Rosland, Counsellor (Commercial – Ontario), Canadian High Commission, London, UK. “The province is a gateway to the North American market. It is particularly appealing to firms in the financial services sector where the province ranks second in terms of foreign direct investment jobs, and the city of Toronto consistently ranks among the top world-leading financial centers. Validus Risk Management will benefit from an unrivalled talent pool, excellent links to other North American financial hubs and ready access to a wide ranging client base.”
