A truly global organisation, this large scale asset manager has over 16,000 employees and offices in 32 markets around the world.

Our client was a leading provider of long-dated illiquid credit, which can be used to back annuities and other long-tail liabilities within the sector – with key asset centres of excellence in the Road, Rail and Aviation Infrastructure categories, US Corporate Lending and extensive Commercial Real Estate capabilities. Aware of the potential risk diversification and capital opportunities presented by holding a reinsurance license, our client requested our advice on an insurance jurisdiction in which we have developed strong experience: Bermuda.

This project required extensive background work before hiring could commence:  What requirements does the Bermudan regulator have in its licensing process and what concerns are commonly raised around new licensees?  Which C-suite appointments will be made, and in what order to ensure a smooth licensing process?  What legislation in tax and other company secretarial factors might be relevant?  On the local hiring market, our long-standing knowledge of Bermudan compensation levels and benefits packages was of advantage, together with our understanding of how immigration and visa sponsorship rules might delay or derail hiring plans.

We engaged a number of our most senior contacts on the island, who advised us on how to structure an appropriate CEO package, and leveraged a broad brush of inter-relationships and understandings of changing local legislation and regulatory developments to support the client.

This was the second Bermudan C-suite project undertaken by AMC, having hired CFO, CRO and COO for another new licensee in 2022. A CEO shortlist was prepared with supporting experience in unusual areas, such as third party capital raising. The project is nearing its conclusion as we publish.