People moves: Federated Hermes revamps private equity business

Federated Hermes – The firm has announced a trio of changes to the leadership of its Federated Hermes Private Equity business, as well as appointing an associate director of business development for the UK & Ireland for its main business.

Brooks Harrington, previously deputy chief investment officer and head of US investment at Federated Hermes Private Equity, has been promoted to CIO, private equity. In his new role, Harrington is responsible for the investment team and ensuring the continued delivery of investment performance for Federated Hermes Private Equity clients. He brings extensive experience leading high-return investments, having been with the firm since 2015, when he joined from GE Capital.

Cameron Payne, who serves as co-head of EMEA investment, has been appointed to the private equity global investment committee. Since joining Federated Hermes in 2015, Payne has played an integral role in the evolution of the business’s active co-investment model, participating in high-profile transactions, completing more than 40 deals, and 20 primary fund investments. He joins the existing private equity global investment committee members – Harrington (CIO), Elias Korosis (global investment partner), Sean Yoo (head of Asia investment), and Christian Mankiewicz (head of portfolio management).

Peter Gale, who has held the role of CIO and head of private equity for over 15 years, has retired from his executive responsibilities but remains actively involved in the business, transitioning to a non-executive role as chair of Federated Hermes Private Equity. He founded Hermes GPE LLP in 2009 and has also played a critical role in the development of the wider private equity industry including advising the UK government on long-term thinking in pension fund management, particularly with respect to the role of private equity, which culminated in the creation of the Myners Report.

In its main business, Federated Hermes has appointed Ross Ford as associate director of business development for the UK and Ireland. The strategic hire underscores the firm’s commitment to strengthening its presence in the region, enhancing client engagement, and delivering exceptional value for clients.

In his new role, Ford will be responsible for driving the growth of assets under management by assisting in raising third-party assets and delivering business targets in line with the firm’s wider UK wholesale plan. Reporting directly to Dan Churchouse, head of business development for the UK & Ireland, Ford will develop and strengthen Federated Hermes’s business and client service, with a primary focus on the regional market in the South of England, excluding London.

Ford joins from Aviva Investors, where he held the position of business development manager, focusing on the growth and retention of retail funds across the South West of England and South Wales.

Impax – Sally Bridgeland has retired as chair and non-executive director at the firm. She steps down from the board after serving a nine-year term as a director and has been chair of Impax since December 2020.

Lindsey Brace Martinez is also stepping down as a non-executive director and chair of the company’s remuneration committee, having also served a nine-year term.

Accordingly, Simon O’Regan has been appointed as chair to succeed Bridgeland. O’Regan became a non-executive director of Impax in 2020 and was previously senior independent director, having been succeeded by Annette Wilson.

Wilson remains chair of the audit and risk committee and Julia Bond succeeds Martinez as chair of the remuneration committee. O’Regan has ceased to be a member of the audit and risk committee.

O’Regan has 40 years of experience in the insurance, pensions and asset management industries. He is a UK-qualified actuary and was formerly chief executive officer of Mercer in Australia, in the UK, in Europe and in the US/Canada. He was a member of the UK’s Nuclear Liabilities Financing Assurance Board until it submitted its final advice on Hinkley Point in 2015 and served as a non-executive member of the Foreign, Commonwealth and Development Office’s Audit & Risk Assurance Committee. He was formerly a non-executive director of Alexander Forbes Group Holdings.

Cardano – The investment management and advisory business has appointed Jonathan Repp as director and Sonia Sandhu and Jacob Wooderson as analysts to expand its risk solutions team. This move will enable the risk-solutions team to address the growing demand in the sector and expand its use of technology to enhance data and benefits analytics.

Repp joins from EY where he spent almost six years advising trustees and corporations on buy-in, buyout and superfund transactions.

Sandhu draws on experience as an actuarial consultant and technology implementation specialist at Mercer and then HowNow. Wooderson worked previously as a bulk purchase annuity pricing analyst at Standard Life and a trustee consultant at WTW.

Northern Trust – Ian Hamilton, currently head of asset owners, UK, has been appointed head of asset owners for Europe. This is a newly created and expanded role.

Asset owners’ roles and business models are evolving at increasing levels of sophistication and complexity, the firm noted, adding that in the new role, Hamilton will work in collaboration with country leads across the European region, in addition to his current focus on the UK market, to support clients in achieving their strategic priorities.

Hamilton brings a wealth of experience in investment and pensions with more than 23 years in consulting, banking and asset servicing.

Institute and Faculty of Actuaries (IFoA) – The institute has announced that Kartina Tahir Thomson has begun her presidential term, taking over from Kalpana Shah. Paul Sweeting now joins the presidential team as president-elect.

Tahir Thomson said: “There is a lot to do in this sessional term but my theme – to ensure a sustainable future for the next generation of actuaries – will keep me focused. I am passionate about the relevance that we, as actuaries, have in the future.”

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