Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) investment fund manager, has announced a new key hire, taking former Elementum executive Benjamin Somers as its new Managing Director of Business Development.
Somers has almost 25 years of experience in business development for asset managers, nearly 12 of which were spent at ILS and catastrophe bond fund manager Elementum Advisors.
Somers has been appointed Managing Director of Business Development at Aeolus Services Corp., which is the US subsidiary of the Aeolus Capital Management Group.
He will be based in the United States and report to Aditya Dutt, Partner and President of Aeolus.
Somers is experienced in business development, alternative asset management, debt capital markets and corporate banking, as well as having led investor relations and capital raising activities specifically for an ILS specialist manager.
He was a Partner and Head of Business Development & Investor Relations at Elementum Advisors, managing the firm’s business development team, directing its capital formation and investor relations, while also contributing to the senior leadership team.
Before Elementum, Somers was a Director on the Emerging Markets team at Stark Investments and worked in the asset management and corporate banking departments of JP Morgan and its predecessor firms.
Andrew Bernstein, CEO, Partner and Co-Head of Portfolio Management, commented on the appointment, “Ben is one of the stand-out business development professionals in the insurance-linked securities asset class and I am thrilled to be adding a professional of his caliber to Aeolus.”
Dutt, added, “It is a pleasure to welcome Ben to the Aeolus team. We believe his skillset, capabilities and experience will continue to enhance our focus on serving our clients and partners.”