Brad Bauer and Giuseppe Naglieri were named co-CIOs at alternative investment firm Varde Partners, effective immediately, a spokeswoman confirmed.
Based in London, Messrs. Bauer and Naglieri, who were previously deputy CIOs, will become co-CIOs alongside Ilfryn Carstairs. They will share oversight of Varde's global investment activity with Mr. Carstairs, who was previously sole CIO and is also co-CEO.
"This is important recognition of the strong leadership that Brad and Giuseppe are already providing alongside me in the CIO function," Mr. Carstairs said in a news release. "Together with Jon Fox as president and Andy Lenk as deputy CEO, this group represents a cohesive and experienced global leadership team for the firm," he added.
Varde Partners manages $15 billion in assets on behalf of global investors.
