Private equity firm Permira has appointed James Fraser as head of financial services. He is responsible for identifying investment opportunities in the sector and leading an 11-strong dedicated team of professionals based in London and Permira's other 11 offices worldwide.

Fraser previously spent 20 years with L.E.K. Consulting in the U.K., U.S. and Australia, most recently as co-head of the firm's global financial services practice, responsible for advising corporates and private equity firms.

Fraser's recruitment is the latest of a series of recent hires aimed at strengthening Permira's financial services expertise, and follows the recent appointments of Gerrit Zalm and Dan Healy as senior advisers and John Coyle as co-head of the New York office, all with financial services backgrounds.