Carne Global Financial Services, a business adviser to the asset management industry, has opened a New York office to complement its presence in Dublin, Dubai, Luxembourg, London, Geneva and the Cayman Islands.

Joe Hardiman, managing director, and Paul Bishop, director, will lead the US business.

Hardiman was previously global head of mutual fund products for American Express Bank with full responsibility for the international mutual fund business distributed in Europe, Asia and Latin America.
 
Bishop was previously director of offshore operations for American Express Bank and has over 16 years of mutual fund and alternative product experience. He was responsible for day-to-day operations of the Luxembourg-based asset management company, including oversight of audit, personnel, compliance, risk management, and vendor management.
 
Hardiman and Bishop will focus on assisting alternative and traditional managers in establishing Irish, Luxembourg and Cayman Island funds.

They will also develop and implement plans for re-domiciling existing funds to regulated jurisdictions and provide assistance with the distribution of funds outside the US.
 
John Donohoe (pictured), Carne group chief executive, says: “We are working with a large number of hedge and traditional managers in establishing alternative Ucits, ETFs and other fund products in Ireland and Luxembourg. Joe and Paul can provide much needed assistance to them. European investors are increasingly demanding regulated products and managers are examining solutions for this, as well as proposals for the European Union’s Alternative Investment Managers Directive. We are committed to improving the corporate governance of unregulated funds through the Carne Global Fund Directorship programme.