Lombard International has appointed a new chief executive of its US operations.
Michael Gordon joins the firm as CEO succeeding John Hillman, who is now the executive chairman of Lombard International globally.
Hillman’s promotion follows the integration of US-headquartered Philadelphia Financial with Luxembourg-headquartered Lombard International Assurance in September 2015.
Gordon joins Lombard International from his role as global head of insurance solutions at BNY Mellon. Additionally, he was also chief executive officer of Tiber Capital Management, LLC, a wholly-owned subsidiary of BNY Mellon focused on managing assets for insurance and reinsurance companies.
Before BNY Mellon Gordon was an executive at New York Life Insurance Company.
The announcement is part of a series of strategic developments for Lombard International following on from the launch, in September 2015, of its global life insurance-based wealth management business. As reported, last month the firm opened a new office in New York City to boost its US presence. The New York office at 400 Park Avenue will be used by Lombard International’s sales team as the firm looks to expand its offerings of high-net-worth solutions.
Also, see June’s edition of International Investment for a full in-depth feature on Lombard’s intentions.
Lombard International has global assets under administration in excess of US$75bn with a global staff number of over 500, including more than 60 technical experts specialising in more than 20 jurisdictions.
Funds managed by Blackstone own Lombard International. Blackstone is an investment firm with assets under management of more than US$330bn.