Varde Partners promoted two executives as part of the firm's succession plan.
Jon Fox was named president, while Andy Lenk was appointed deputy CEO, the company announced on Monday.
The positions are new. They will both report directly to co-CEOs Ilfryn Carstairs and George Hicks.
The appointments follow the naming of Mr. Carstairs as co-CEO and chief investment officer. These moves are part of succession plan within Varde, as co-founder Mr. Hicks announced in July 2019 his plans to retire from active duty and become an executive chairman in January 2022.
Mr. Fox has been a partner and the head of the New York office, responsible for overseeing the firm's global business development and investor relations team, fund and product development, as well as communications and public affairs. He is also a member of Varde's investment and senior leadership committees. He will continue to maintain all existing responsibilities in addition to becoming president.
Mr. Lenk, a partner, was global head of strategy and portfolio operations. He is a member of the firm's investment, senior leadership and enterprise risk management committees. He too will continue to assume these responsibilities in addition to taking on his new role.
Varde also announced the following promotions and role changes within the firm:
- Elena Lieskovska, a partner, will lead a new insurance business after having previously been head of European financial services.
- Aneek Mamik, a senior managing director, was promoted to global co-head of financial services from his current role leading those investments in North America and Asia. He will oversee the global team with partner Rick Noel.
- Craig Rydqvist, senior managing director and global head of capital markets, will join the financial services team to lead investments outside of North America.
- Missy Dolski, a managing director, was promoted to global head of capital markets from her current role as head of capital markets for North America.
Varde Partners manages $14 billion in alternative investment strategies, including credit, real estate, real assets and infrastructure.