Armajaro Asset Management has appointed Harry Morley as chief executive officer, having previously been group finance director of Armajaro Holdings since 2008.
He takes on the role from Richard Gower, co-founder of Armajaro, who becomes chairman of Armajaro Asset Management.
Prior to joining Armajaro, Morley spent the previous ten years working for a range of private equity backed businesses and co-founded Tragus Holdings, the owner of the Café Rouge and Bella Italia restaurant chains, which was sold to Legal & General Ventures in 2005.
Armajaro Asset Management manages four commodity hedge funds and an emerging markets hedge fund with combined assets under management in excess of USD1.7bn.
Morley says: "With five hedge funds across commodity and emerging market sectors, we believe Armajaro offers investors a unique and compelling investment opportunity. Investment in commodities as an asset class has been growing rapidly, particularly among pension funds and other professional and institutional investors. I look forward to continuing to develop the business and building on the existing momentum and potential for further growth."
Gower adds: "The business will benefit hugely from Harry’s experience and expertise. He has worked closely with Armajaro Asset Management as group finance director and as a member of the Armajaro Asset Management risk committee for the past two years. Harry is ideally placed to drive the business forward."
