Arena Investors brings on former Bridgewater head of marketing

Parag Y. Shah will join private credit manager Arena Investors as managing director and head of marketing on May 7.

The position is new, confirmed J. Cameron MacDonald, president and CEO of Westaim, in an email. Arena Investors is a subsidiary of Westaim. Westaim provided seed capital to Arena when the firm launched in 2015 and retains a significant ownership stake in the money manager.

Arena manages $1 billion primarily for insurance companies but will seek to broaden its institutional client base, Mr. Shah said in an interview.

Mr. Shah was senior management associate and head of marketing at Bridgewater Associates. His duties were assumed by others on Bridgewater's marketing team, said company spokesman Russell Sherman in an email.