Jana Sivananthan (pictured) has joined the expanded 7IM executive committee in the newly created role of chief risk officer, with immediate effect.
For the past four years he has been head of group risk at Brooks Macdonald, during which time he was responsible for all areas of risk management, including credit risk, operational risk and internal capital adequacy assessment process (Icaap).
It is an interesting development given that Portfolio Adviser reported last week that a £300m offer from Brooks Macdonald to buy 7IM was rejected in December.
During his 20-year financial services career, Sivananthan has held senior roles at a number of companies including Smith & Williamson, Julius Baer International and Merrill Lynch.
Assets under management grow 50% to £21bn
At 7IM, Sivananthan will report to chief executive Dean Proctor and work alongside the senior leadership team to further enhance and scale the firm’s risk management functions.
Since Proctor took to the helm in 2019, AUM has grown to £21bn from £14bn.
With the firm approaching its 20th anniversary, Proctor said it “has transformed from what was once a small challenger business to an established firm”.
“As we continue that growth, I have every confidence that Jana’s insights and expertise will be invaluable. His proven experience of growing and enhancing risk management capabilities, alongside his close understanding of the regulatory environment in which we operate, make him a perfect fit to help us in this next stage of development and as we continue to go from strength to strength.”
See also: 7IM brushes off Covid market woes as assets jump 24%