AKJ, an independent brokerage and software group serving the institutional and hedge fund industries, has appointed Tom Mackay as general counsel.
Mackay has provided legal consultancy to AKJ for more than 12 years, but with the formation of AKJ Accelerator in 2012, his role has now developed into a more senior position.
AKJ Accelerator is a hedge fund solution for fund managers, which takes care of all the necessary components involved with the set up and day-to-day operation of a fund. As AKJ’s general counsel, Mackay is responsible for the global regulatory framework within AKJ Accelerator and will be in charge of analysing problems and developing options and implementing solutions for AKJ’s fund management clients.
Mackay brings 38 years of legal experience in financial services to AKJ and its Accelerator solution. During his career he has held positions at organisations including the London Stock Exchange and 3i, where he was head of legal department, as well as partner positions in international law firms.
AKJ’s founder and chief executive Anders Kvamme Jensen says: "I am excited that Tom has decided to manage the legal and regulatory aspects of AKJ Accelerator. You need a good lawyer to set up a solid hedge fund, particularly in an industry where around 50 per cent of fund failures are due to operational and legal issues and I am confident that Tom brings the expertise we need to provide an excellent service to our clients.”
Mackay adds: “I am delighted to be appointed as general counsel at such an exciting time when there is increasing appetite for our hedge fund solution. Many fund managers get frustrated about the time and resource spent on setting up and running a hedge fund when they should be focusing their energies on trading. AKJ Accelerator offers managers the opportunity to outsource their operations to a single trusted provider, leaving them to get on with their day job.”
AKJ was established in 1995 by Jensen and serves institutional and hedge fund clients in over 37 countries.