FundRock, an alternative investment fund manager based in Luxembourg, has hired Xavier Parain from the Autorité des Marchés Financiers (AMF) to serve as its new CEO.
Parain will assume the new responsibility on 7 January 2019.
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At AMF, he was the managing director at the asset management Directorate.
Prior to that Parain was the CEO of Morgan Stanley’s funds and hedge funds distribution platform FundLogic and president of Merrill Lynch Invest.
BlackFin Capital Partners president and founding partner Laurent Bouyoux said that Parain will be responsible for facilitating the deployment of FundRock’s footprint in continental Europe, UK as well as Ireland. BlackFin is a shareholder of FundRock.
“We are very pleased to welcome Xavier Parain as the new CEO of FundRock. His experience at European regulatory bodies’ levels will directly benefit FundRock’s clients, helping them to navigate through a complex and constantly evolving regulatory context. He will also bring his expertise in funds structuring, management and distribution, inherited from his times at BoA Merrill Lynch and Morgan Stanley,” Bouyoux stated.
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By GlobalDataEarlier this year Fundrock acquired SEB Fund Services, the Luxembourg-based wholly owned subsidiary of Swedish lender SEB, for an undisclosed sum.
FundRock manages over 300 funds in Luxembourg, the UK and Ireland with €45bn in assets.
