People Moves: Cadel Consulting, CISI, PineBridge Investments, Cayman Finance

Cadel Consulting Ltd

Bob Pain, a well-known figure in the cross-border life insurance industry, has formally announced the launch his own consultancy, Cadel Consulting, which went live in the second half of last year. Pain said he intends to operate the consultancy alongside his work as senior adviser to Investors Trust Assurance SPC – of which he is a former chairman – as chairman of the Association of International Life Offices, and trustee of a sports charity.

Based in London, Cadel Consulting will cater for the life and pensions industry in the UK and internationally, with mentoring, research, distribution and marketing services, as well as business development and non-executive directorship services, Pain said. Among the assignments he already has are the chairmanship of a start-up fund management company, research work for an investment administration platform and mentoring work with chief executives in various industries outside the life sector.

As reported, Pain stepped down from the chairmanship of Investors Trust last June, after five years.

Chartered Institute for Securities & Investment
The Chartered Institute for Securities & Investment said it had named Martin Ruskin to succeed Ian Howe as chairman of its IFP Forum Committee, which oversees the  IFP Professional Forum, which  encourages CISI’s financial planning members to share their ideas and listen to presentations by other practitioners, in a confidential (Chatham House Rule) setting.

Ruskin is head of business development at Paradigm Norton Financial Planning, a UK advisory firm with offices in Bristol, Torquay and London, and is also the former deputy chairman of  the IFP Forum.

Howe has stepped down from the IFP Forum chairmanship but remains a CISI member and has kept the Certified Financial Planner designation, CISI said.

The IFP Forum dates back to 2015, when CISI took over the Institute of Financial Planning and in integrating it, created the forum.

PineBridge Investments

PineBridge Investments, an internationally-focused, New York-based asset management division of Hong Kong’s Pacific Capital Group, has named Michael Karpik chief operating officer.

Karpik, pictured left, succeeds Julian Sluyters, who has left the company. He comes to PineBridge from State Street Global Advisors, where he was EMEA chief executive, and had overall responsibility for  its investment management business in the region. Prior to SSGA, he was senior funding manager at Sallie Mae, (formally known as the SLM Corp,  set up initially in the 1970s as a federal government education loans entity) in Washington, DC. He has a BS in Finance and Economics from Gannon University, and is a CFA Charterholder.

Based in PineBridge’s New York City headquarters, Karpik will be directly responsible for the company’s global operations, finance, compliance, risk management, product management, funds, and technology functions.

He will report to PineBridge CEO Gregory Ehret.

PineBridge is the former asset management operation of AIG, the New York-based insurance giant, which sold it to PCG in 2010, which in turn re-branded it as PineBridge. At the end of June it has assets under management of more than US$85.5bn.

Cayman Finance

Cayman Finance, the promotional arm of the Cayman Islands’ financial services industry, said Conor O’Dea has been elected chairman, succeeding Ian Wight, who is stepping down after three years in the role. O’Dea is the former managing director and senior executive vice president of international banking at the Cayman Islands outpost of the Bermuda-based Butterfield banking group, which he first joined in 1989.

O’Dea retired from executive responsibilities with Butterfield last year to assume non-executive roles with Butterfield entities.

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