Alternative investment firm Varde Partners has announced Ilfryn Carstairs as co-chief executive officer (CEO), effective Jan 1, 2020. Carstairs will join George Hicks, co-founder, and current sole CEO, at the helm as co-CEOs and he will base in the Singapore office.  

He will also continue with his role as global co-chief investment officer (CIO). He is also a partner at the firm and co-chairs the firm’s investment committee. Meanwhile, Hicks intends to transition to an executive chair role in 2022.

The company appointed the new CEO as a part of their succession plan for the new generation of leaders.

Carstairs has been based in Singapore since 2017 and he joined Varde Partners in 2006 in London and played a crucial role in building the team and business in Europe and Asia, the company said.

The company has regional headquarters in Minneapolis, London and Singapore, employing more than 300 people in total.