Varde names president and deputy CEO

Jon Fox and Andy Lenk were promoted to president and CEO, respectively, at the $14 billion firm Varde Partners, which also announced a number of other promotions this week. The moves are part of a number of steps in a transition process at the company and includes the promotions of Brad Bauer and Guiseppe Naglieri to deputy CIO posts. Co-founder and co-CEO George Hicks, plans to move in late 2021 to the position of executive chair, which was announced in July 2019. “The appointments are based on Jon and Andy’s numerous contributions to the company’s success and growth, as well as the leadership experience and skills they will bring to the table in the coming years,” said Hicks in a statement. As president, Fox will retain all his existing management responsibilities and will also expand the firm’s global business relationships. He is currently partner and head of the New York office, to which he relocated five years after joining the company in London in 2013. He has led the company’s global business development and investor relations team, fund and product development and is also responsible for communications and public affairs. Lenk joined Varde in 2001 and is a partner in Minneapolis. As global head of strategy and portfolio operations he works closely with the co-CEOs on all aspects of corporate strategy, finance, talent and operations. During his career at Varde, he served on investment teams in the U.S. and Europe. H has also been responsible for overseeing and developing global portfolio activities, capital markets, asset management and the company’s finance and operational functions. Founded in 1993, Varde has it roots in the loan and non-performing credit markets. Since inception, the company has invested more than $75 billion across corporate and traded loans, real estate and mortgages, private equity and direct loans. The firm has offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe employing more than 300 professionals. Four other promotions were announced this week. Elena Lieskoyska, partner, will lead a new, dedicated insurance business after serving in the financial services team. Prior to that, she specialized in special finance investments in Europe. Aneek Mamik, senior managing director, will advance from his current role as head of investments in North America and Asia to global co-head of financial services. He will lead the global team together with partner Rick Noel. Craig Rydqvist, senior managing director and global head of capital markets, is based in London and will be responsible for investments outside North America in the financial services team. Missy Dolksi, managing director, is being promoted from her current role as head of capital markets for North America to global head of capital markets. “We are happy to announce these promotions, which entrust proven top talent with significant investment opportunities for our investors,” said Deputy CIO Bauer. “These people embody the diverse talent of our investment teams and have truly earned their promotion based on their contributions.”

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