People Moves Roundup

Man GLG gets some credit PMs, Aon promotes general counel, and more.

Man GLG Hires Patrick Kenney and Santiago Pardo as Credit PMs

 Man GLG, the discretionary investment management business of Man Group, appointed Patrick Kenney and Santiago Pardo as portfolio managers within its credit business. Based in London, they will focus on global (non-US) stressed, distressed, and opportunistic credit, and report into Simon Finch, chief investment officer of credit.

Kenney joins Man GLG most recently from Overland Advisors, where he had responsibility for global distressed and international credit. Earlier in his career, he held analyst roles at Moore Capital Management, Tudor Investment Corporation, and Wasserstein Perella.

Pardo joins from The Abraaj Group. He also held investment banking roles in New York at Goldman Sachs, Deutsche Bank, and Salomon Brothers.

Aon Names Darren Zeidel as General Counsel

Aon plc’s board of directors has appointed of Darren Zeidel as the firm’s executive vice president, general counsel, and company secretary. 

Zeidel will lead the firm’s global law department and manage legal, compliance, regulatory, and public affairs. Zeidel succeeds Peter Lieb, who announced his departure from the firm in early June. 

“At Aon, we are fortunate to have had a deep bench of legal talent from which to choose our General Counsel,” said Greg Case, chief executive officer of Aon. “Having worked closely with Darren since he joined Aon in 2012, I know that he will hit the ground running as both an engaging leader to his colleagues and an exceptional advisor to our firm and our board of directors.”

Zeidel recently served as deputy general counsel and has held a number of senior legal roles in the firm. Prior to Aon, he worked at Honeywell. He began his legal career as an associate in the mergers & acquisitions group in the New York office of Skadden, Arps, Slate, Meagher & Flom LLP. 

Cross River Names Global Finance Veteran Melissa Ballenger as CFO

Cross River Bank has appointed Melissa Ballenger as its executive vice president and chief financial officer, effective immediately. Ballenger joins from State Street Corp., where she served as executive vice president, chief financial officer of Europe, Middle East, and Africa.

Ballenger will be responsible for overseeing the company’s strategic and financial planning, balance sheet structuring, accounting functions, risk management practices, as well as its funding strategies. She will report directly to Gilles Gade, CEO of Cross River.

Värde Partners Appoints Co-CEO

Värde Partners announced that Ilfryn Carstairs will join George Hicks, co-founder and chief executive officer, as co-CEO, effective January 1, 2020. Hicks intends to transition to an executive chair role in 2022. Carstairs will retain his role as global CIO.

“Transition is a process and involves the entirety of the firm,” said Hicks. “The roles Ilfryn and I play are just part of that process whereby a new generation of leaders succeed the founders.”

Carstairs is a partner and co-CIO overseeing the global investment strategy for Värde. He co-chairs the firm’s investment committee. Based in Singapore since 2017, he joined the firm in 2006 in London. Prior to being named co-CIO, he served as co-head of corporate and traded credit.

Hicks co-founded the firm in 1993 with Marcia Page, currently executive chair, and Greg McMillan (retired 2008) in the early days of the alternative investing industry. The firm has since invested more than $60 billion.


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