Estera hires ILS funds & investment compliance expert Resnik

Estera has hired Damian Resnik, an investment compliance focused executive with specific expertise gained in the insurance-linked securities (ILS) sector, as its new Client & Operations Director in Bermuda.

Estera, a global provider of funds, corporate and trust services and an active service provider to the ILS and reinsurance markets, has also moved its Bermuda office to new premises as it looks to further build-out its footprint on the island.

Resnick, who was most recently Chief Compliance Officer for Bermuda based ILS asset manager New Ocean Capital Management Limited, a wholly-owned unit of insurance and reinsurance firm AXA XL, takes on the role of Client and Operations Director at Estera Services (Bermuda) Limited.

His background features significant time working specifically in investment compliance related roles, with ILS and collateralized reinsurance specific expertise gained at New Ocean, alongside investment management including at hedge funds, fund administration and banking expertise, all gained over the course of his 30 year career.

At Estera, Resnik will lead service provision for a portfolio of clients and also be responsible for managing service delivery, operational activities and organisational strategies within the Bermuda office.

Alison Dyer-Fagundo, Managing Director at Estera Bermuda, commented on the hire, “We are thrilled to welcome Damian to Estera. As Bermuda continues to move forward and enhance its reputation as a highly respected and successful financial centre, we are pleased to have someone with Damian’s invaluable knowledge and influence in the industry joining the company. Damian will also be an essential addition to the Bermuda office in his operational capacity as we strategically invest in enhancing our internal and external processes allowing us to serve our clients more effectively.”

“Damian’s formidable operational and technical acumen, coupled with his demonstrated strategic leadership will be vital as we continue to invest to support our clients, partners and markets in an ever-evolving world.” added James Maitland, Regional Head of Americas, Bermuda and Caribbean. “His leadership will play a critical role as we expand our capabilities across the region, including the United States. We are resolutely focused on enhancing our service experience and adding value to our clients.”

Alongside the strengthening of its team, Estera is also demonstrating its commitment to Bermuda by having recently moved into new office premises.

Dyer-Fagundo explained, “Investing in new office space is a sign of our commitment to continue to invest in Bermuda.”

Maitland added, “The move into our new offices is an exciting new chapter for Estera in Bermuda. It is another example of our commitment to delivering world-class services to our clients.

“In addition to significant global investments to support long-established private wealth and corporate services businesses, Estera has also built a fully-fledged global funds capability. The recent moves to our modern new facilities in both Bermuda and Guernsey are the latest elements of our broader investment strategy in support of our clients, employees and global presence.”

As we reported earlier this month, Estera has recently been acquired and will combine with corporate administration and fiduciary service provider Ocorian.