Värde Partners has appointed Ilfryn Carstairs as co-CEO and will join George Hicks, co-founder and chief executive officer, effective 1 January 2020.
Hicks co-founded Värde Partners 25 years ago and intends to transition to an executive chair role in 2022. Carstairs will retain his role as global CIO.
Hicks said: "Carstairsjoined us 12 years into this journey and has grown as both an investor and a leader. His skills in both pursuits will enable Värde to continue delivering for our investors and will help to ensure that we maintain our strong culture long into the future."
Carstairsis a partner and co-chief investment officer 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 and played a key role in building Värde's team and business in Europe and in Asia. Prior to being named co-chief investment officer in 2017, he served as co-head of Corporate and Traded Credit, managing Värde's liquid investing activities globally.