DIFC Insurance Association

The DIFC Insurance Association (DIFCIA) has appointed Simon Price as its CEO, officially joining on 1 December 2022. 

The DIFCIA serves as the representative body and ideas hub for an important sector of the DIFC community and is the first of its kind in the United Arab Emirates

Philip Story, chairman of the DIFCIA, said: "The DIFCIA is delighted to be able to appoint Simon Price as the new CEO. Simon brings a huge amount of international and UAE experience to the role, he has worked closely with the DIFC in his previous roles on major projects and he understands the vital importance of providing added value and project delivery to our members."

Simon Price, CEO, said: "Having previously held senior roles at one of the largest international insurance companies in the Middle East this new role was a logical career move, especially as there is a need for an organisation like DIFCIA. 

"We currently have nearly 50 members and expect to double this number over the next few years. Membership is currently open to companies regulated by the DFSA and service providers who work with insurance companies. Networking, sharing ideas and better engagement with the DFSA are the two main reasons why firms wish to join DIFCIA"

The association's broad objectives are: 
•    To represent the collective interests of members within the DIFC and outside the DIFC.
•    To be a platform for dialogue amongst members to exchange views on market issues, discuss market practices in order to improve transparency and professionalism.
•    To improve market efficiency and facilitate and encourage co-operation amongst members.
•    To contribute to the development of the DIFC as the premier (re)insurance market in the region, and to promote best practice and high business and ethical standards between members within the DIFC (re)insurance community.

DIFCIA, established in 2015, is registered with and established in the Dubai International Financial Centre.

Stonehage Fleming

Stonehage Fleming has appointed Laura Perkins as senior trustee. 

Adding to Stonehage Fleming's fiduciary expertise, she will be responsible for managing assets held in trust on behalf of beneficiaries, acting on boards of corporate trustee and corporate director companies in a number of jurisdictions. Laura is based in Jersey and reports to Richard Stride, head of family office Jersey. Her appointment is effective immediately. 

With 17 years' legal experience Laura joins from Collas Crill where she was a group partner. Appointed to the firm in 2019, she was responsible for providing advice to private and institutional clients on all aspects of Jersey trust, succession and probate law and ancillary matters. Prior to this role, she was a senior associate at Harneys based in the British Virgin Islands. 

Richard Stride, head of family office Stonehage Fleming Jersey, said: "The appointment of Laura reflects the importance of our presence here on the Island and our continued role as trusted advisers to many of the world's leading families and wealth creators across generations and geographies."

Stonehage Fleming continues to grow in Jersey with an additional appointment of Mee Mee Phyo. She joins Family Office Jersey as a Trust Administrator and reports to Rebecca French. 

Her appointment is effective immediately. Mee Mee Phyo joins from Fairway Group where she was a trust and client accounts administrator. 

Praxis

Private wealth and corporate services firm Praxis has appointed business development specialist Dominic de Mariveles as commercial director to spearhead the Group's ambition to be a leader in the provision of high-quality administration services to its international client base. 

He has worked in business development and management consulting across a range of professional services for over 20 years. Previous roles include three years at Crestbridge as group business development director and 10 years as global client relationship director at Bryan Cave Leighton Paisner LLP. 

Based in London, his role at Praxis will focus on developing the firm's private wealth and corporate services offering, deepening client and intermediary relationships, and working with staff across the Group to enhance business connectivity. Dominic is keen to use Praxis' established network of 15 offices to benefit its clients, introducing them to new markets and services globally.

Business development director, Nathan Petty, has joined Dominic's team, moving from his previous client role at Praxis where he was responsible for a portfolio of clients. Nathan joined the firm in early 2022 and in his new role will work closely with Dominic and the Group's extensive network of corporate and private client intermediaries.

John Medina, group head of private wealth at Praxis, said: "We believe it is important that we strengthen the relationships between all our offices to ensure our clients benefit from our global presence. Dominic will play a significant role in the alignment of both structure and process for the benefit of both our clients and our teams."

Pacific Asset Management

Pacific Asset Management has hired Chris Fidyk, who previously managed Findlay Park's flagship fund, as a partner.

It is planned that Fidyk will manage a new fund from the start of next year, according to Pacific.

The fund will likely be a benchmark agnostic, concentrated, multi-cap North American opportunities fund. Pacific said the proposed fund has already received strong interest.

Fidyk joins the firm after leaving Findlay Park Partners in September, where he had spent more than 12 years.

He was most recently a partner and portfolio manager for the firm and was responsible for the £9.4bn Findlay Park American fund.

Prior to Findlay Park, he held multiple roles in investment management and investment banking focused on the healthcare sector.

Matthew Lamb, CEO of Pacific Asset Management, said: "We are incredibly pleased to welcome Chris to Pacific Asset Management. He has a long track record of generating outstanding returns in North American equities and is well-known for his expertise throughout the industry.

"This year more than ever has proven that the homogeneity and industrialisation of asset management does not, like in any industry, hold all the answers. Simply put, Chris personifies active craft investing."  

Fidyk added: "I am simply thrilled to join Matt and the team at PAM.  I considered several alternatives, but Pacific is unquestionably the best possible home for me. 

"Matt has built a firm with world class people, institutional infrastructure and differentiated funds, but more importantly we have a shared belief that a differentiated or craft investment process is required to generate consistent fund outperformance in North America."

Oak Group

Oak Group has named Belinda Ridout (subject to regulatory approval) as director of client accounting and Hannah Crocker as company secretary.

Ridout has over 14 years of expertise in private equity, across multiple complex fund structures. She has considerable expertise creating suitable processes and procedures to improve delivery of services, training team members, and managing the onboarding of new clients during fund migrations and launches. She has also served on numerous regulated GP Boards for Venture Capital and Buy-Out Funds. 

Crocker specialises in corporate secretarial practise and has over 12 years of experience in offshore fund administration. She is passionate about all things corporate governance and has provided corporate secretarial services to a range of private and listed entities with a focus on the real estate and private equity sectors. Additionally, Hannah has served as a director on various client boards. 

James Tracey, Managing Director of Funds said; "Belinda brings significant expertise in fund administration and leadership and will help drive our success through delivery of high-quality service, built on significant experience."
 
He added: "Hannah brings passion and expertise in matters of corporate governance. Hannah leads our governance services and our team of company secretaries, who in turn support our client boards to understand and demonstrate high levels of corporate governances."