Global independent asset manager Algebris has appointed Cosimo Pacciani as group chief operating officer.
Pacciani will be based in London reporting to the firm's CEO Davide Serra, and to its deputy CEO Alex Lasagna.
Before being appointed Algebris' group chief operating officer, he was the chief risk officer of the firm's European Stability Mechanism. Prior to that, he spent 11 years working for Royal Bank of Scotland in several risk and compliance-related roles. Notably, he was the head of Risk and Compliance for the Asset Protection Scheme, where he helped to manage, with success, one of the most complex financial bail-outs of the financial crisis.
The company said: "We are delighted to have him on board and look forward to him starting his new role."
Algebris UK is a global independent asset manager with a historical focus on the financial sector across the capital structure. The company has gradually expanded its expertise and entered the global credit and Italian securities space to capture a broader set of value opportunities.
Most recently, Algebris on-boarded a quant team that has embraced a statistical arbitrage strategy based on mean reversion. Founded by Davide Serra in 2006, Algebris has offices in London, Milan, Luxembourg, Boston, Singapore and Tokyo, and a team of more than 90 professionals and manages $12bn across multiple strategies.