Abacus Group, a managed services provider to hedge funds and other alternative investment firms, has appointed Anthony J D’Ambrosi as its new Chief Executive Officer, replacing Chris Grandi, who has transitioned to the post of Chairperson.

In a press statement, Abacus said that D’Ambrosi, who brings over three decades of global IT and service provider industry experience, expects to more than double the size of the business within the next three years, while further bolstering service delivery capabilities and innovation.

D’Ambrosi joins Abacus Group from ATSG, where he was CEO, and has previously held a number of senior executive posts leading and transforming large public and middle-market private service provider organisations.

Grandi, who will serve as head of the Board of Directors, will work closely with D’Ambrosi to ensure a smooth transition, and retain involvement with the company’s efforts in mergers and acquisitions, an important part of Abacus Group’s growth strategy.