Carne Group, a hedge fund governance advisory firm, has hired Bear Stearns vet Fred Schilling as a managing director in its U.S. office.
Schilling spent over 20 years at Bear Stearns as a senior managing director, helping found and build its hedge fund prime brokerage division.
Said John Donohoe, CEO of Carne Group: “Fred is a recognized figure on Wall Street with a strong and respected track record in the prime brokerage industry. He joins our team at a time when investors are placing increasing emphasis on the quality of governance and oversight in U.S. hedge funds. Very few independent fund directors understand the complexities of prime brokerage and how it relates to the operations, risk management and capital raising of hedge funds like Fred does.”
Carne’s hedge fund team is based in the U.S. and the Cayman Islands and includes Joe Hardiman (formerly of American Express), Peter Heaps (formerly of RBC Dexia and HSBC/Bank of Bermuda), Roisin Cater (formerly of Linklaters and Mourant du Feu & Jeune) and John Ackerley (formerly of Bank of America and Maples Finance).
Said Schilling, in a statement: “It is obvious that investors and regulators are paying more attention to the issue of governance in the U.S. than ever before. I will be helping Carne’s clients meet these new challenges and achieve the higher standards of governance via fresh new approaches to the fund structure.”