Principal Hires Consultant Relations Chief After Finisterre, Origin Buys

Sep 21 2011 | 11:04am ET

In the wake of a pair of London hedge fund acquisitions, Principal Global Investors has added a new executive in the British capital.

Carl McAndrew was named head of consultant relations for Europe this month. Principal Global this year acquired majority stakes in Finisterre Capital and Origin Asset Management—and hopes to add more.

"We're very open to acquiring more boutiques, certainly if they have the right capabilities and fit in with our clients and their needs," Nick Lyster, Principal Global's CEO in London, told Financial News. In particular, the firm hopes to expand into what it calls "'global alternative credit,' which includes everything except sovereign and investment-grade debt."

McAndrew joins from Unigestion, where he was head of sales. He formerly served as managing director of Bank of Ireland Asset Management.

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