Sector developments and company hires

Analytics head nabbed

Merion Square Capital has hired Jeff Fraser as head of analytics, based at the firm’s Ardmore, Pennsylvania headquarters. Fraser joins Merion Square from Chubb, where he was an avp of CAT Pricing and Systems, responsible for Chubb’s catastrophe pricing, portfolio optimisation and global risk aggregation platforms.

Ceo appointed

Cairn Capital Group has appointed Nicholas Chalmers as ceo, replacing Paul Campbell. Campbell has been ceo since he co-founded Cairn Capital in 2004 and will continue to serve the firm as a senior adviser, remaining as a member of the investment committee and capital allocation committee. Chalmers was previously ceo and president of Oceanwood Capital Management, and will join Cairn Capital’s executive management committee and board. 

MOBI member

Global Debt Registry has joined Mobility Open Blockchain Initiative (MOBI), a global consortium of automakers, technology-based start-ups and other mobility players. As a member of MOBI, GDR will collaborate with industry leaders in pursuit of the creation of a minimum viable ecosystem that aims to standardise blockchain and related technologies to facilitate transparency and reduce frictions and transaction costs in mobility. GDR brings expertise in the application of blockchain to auto finance transactions, including how loan data and documents can be better managed on-chain to support automation, faster transactions and emerging new business models. 

Trade receivables programme launched

FastPay has launched a receivables securitisation program with the first tranche of US$80m, and senior funding and trade insurance provided by AIG. This program will offer significant capital to the media and technology sector and allow FastPay to open the door for larger, global media and tech clients to access working capital backed by their trade accounts receivable. AIG is providing senior funding, specialist trade finance insurance, and back-up servicing with additional funding provided by an investment vehicle managed by Cairn Capital. Available immediately, this FastPay facility allows enterprise companies to secure working capital within a structure custom-built for the needs of the media industry.