Baronsmead Partners, the financial risk insurance broker, has appointed Man Group’s Andrew Ducat as partner and head of client service.
Baronsmead has also promoted David Heathfield to partner.
The moves come in anticipation of significant activity for Baronsmead in the year ahead. The introduction of a number of new professional indemnity regulations under AIFMD will increase demand for the firm’s services. Alternative investment managers will need to be up to code with the new requirements by July next year.
Ducat joins Baronsmead from Man Group Plc, where he was head of group insurance. He will work closely with Baronsmead’s client base, which is drawn from a range of hedge funds, investment managers and institutions.
Robert Kelly, senior partner at Baronsmead says: “We are delighted that Andrew has joined Baronsmead. His industry experience speaks for itself and he will play a crucial role in engaging with and growing our client base. It was clear during our discussions that our advice led approach, and always putting our clients’ interests first, really resonated with Andrew.
Ducat says: "This opportunity enables me to combine many years of working within the insurance industry with my experience as a large corporate buyer. I believe this gives me a unique perspective to the development of an enhanced service offering at Baronsmead. Robert has established a focused and first class business in the sector and I am very excited to be working with him and the team."
Heathfield has been general counsel at Baronsmead since May 2010, previously an insurance litigator at a leading London law firm. As in house general counsel, he oversees policies for clients and is responsible for the claims management process.