PCE Investors, a London-based infrastructure platform for hedge fund managers, has appointed Clive Warburton to manage its compliance department. A qualified solicitor, Warburton is co-founder of the Compliance Institute, a non-profit organisation that represents compliance professionals in the UK and seeks to advance standards of competence.
Warburton joined the Investment Management Regulatory Organisation, a predecessor of the Financial Services Authority, in 1987, and has since held various senior positions in the financial services industry. He was compliance officer at both Iimia Investment Group and Old Mutual, and has held directorships of several regulated businesses.
'As asset managers' regulatory impositions and trading strategies become more complex, it is imperative we have experienced personnel ensuring we are following the correct procedures and requirements,' says George Cadbury, president and head of business development at PCE Investors. 'For this, Clive is the perfect candidate.'
PCE Investors has 17 hedge funds on its platform employing a diverse range of strategies and with assets totalling USD1.4bn. Last month Canadian private equity firm Ubequity Capital Partners took a majority stake in the company from the brokerage and trading services provider Schneider Group.
Under its new ownership, PCE Investors is looking to expand the scale and scope of its activities in the UK and abroad, and has announced plans to launch a seeder fund of hedge funds in the second quarter of 2008 with at least USD100m in capital that will invest directly in the funds of managers using the platform.