This week’s overview of transfers and appointments in and around Luxembourg includes updates from Waystone, Carmignac, Baloise, Edmond de Rothschild, Bfinance, and Euroclear.
Naomi Waistel
Carmignac has appointed Naomi Waistell as an emerging market (EM) portfolio manager. Based in London, Waistell will report to Mark Denham, head of equities, and co-manage Carmignac’s Article 9 EM strategy alongside Xavier Hovasse. She will work with a broader team, including Yunfan Bao, greater China analyst, and Amol Gogate, EM equity manager.
Waistell brings 15 years of experience and joins Carmignac from Polar Capital, where she co-managed a quality-growth EM fund. During her tenure, assets under management grew from 167 million euro to 1.5 billion. She has also focused on sustainable investing, aligning with Carmignac’s ESG-integrated investment approach.
Her previous experience includes a decade at Newton Investment Management, managing EM, global, and European equity funds. She is a CFA Charterholder and holds an MBA from the University of Cambridge. Waistell succeeds Haiyan Li-Labbé, who left Carmignac at the end of 2024 to pursue a career outside portfolio management.
Nigel Pasea
Nigel Pasea has been appointed as country head for the Middle East at Waystone. Pasea joined Waystone in 2021 following the acquisition of CCL Compliance and has over 40 years of experience in finance, governance, risk, and compliance, including 18 years in the Middle East.
In his new role, Pasea will lead Waystone’s operations in the region, focusing on supporting the growing number of international institutions establishing operations in the Middle East. He has previously overseen the company’s compliance solutions business in the UAE.
Waystone employs 45 people in the UAE and plans to expand its operations in the Middle East in 2025 to address expected growth in demand for asset management services. The company provides governance, administration, risk, and compliance services to institutional investors and asset managers.
Monika Vicandi
Monika Vicandi will join Edmond de Rothschild and its Executive Committee on 15 January 2025, fully assuming her role on 1 March. She succeeds Jean-Christophe Pernollet, who is retiring from professional activities, the company has announced.
Vicandi, with more than 20 years of experience in Switzerland and Europe, will serve as Chief Risk, Legal & Compliance Officer. She has held senior roles at financial institutions including Oddo BHF, Winterthur International, Union Bancaire Privée (UBP), and VP Bank AG, where she worked as group legal counsel, chief compliance officer, and chief risk officer.
Bart Meskens
Bart Meskens has been appointed chief information officer (CIO) at Baloise in Belgium, succeeding Marc Wouters, who retired at the end of December 2024. Meskens, who joined Baloise’s executive committee in September 2024, specialises in integration and transformation. In his new role, he will focus on optimising the company’s IT infrastructure to enhance services for brokers.
Frans Verhaar
Frans Verhaar has been promoted to managing director and head of continental Europe at Bfinance, the Belgian advisory firm announced via LinkedIn. Verhaar, who joined Bfinance in 2007, began his career at the former NN Investment Partners between 2001 and 2007. Bfinance, established in 1999, serves nearly 600 institutional clients across more than 45 countries and has offices in ten locations globally.
Bernard Frenay
Bernard Frenay has been appointed CEO of European markets at Euroclear, based in Brussels. Frenay, who has worked at Euroclear for 15 years, assumed the role last month. Euroclear CEO Valérie Urbain described the position as “key to strengthening our contribution to European markets” in a LinkedIn post acknowledging Frenay’s appointment.
Investment Officer publishes an overview of key appointments in and around Luxembourg every week. Send your announcements via email to editor@investmentofficer.lu.