Donnacha Loughrey, who heads Crossroads Capital Management in Ireland, is leaving to “pursue new challenges” after the firm’s German owner completes its purchase of the firm.
Hauck Aughäuser Lampe, the German private bank, said that Kevin Bardon had joined as its new chief executive on 1 April, with Loughrey set to step down at the end of the month.
Loughrey had helped oversee the acquisition of Crossroads Capital Management by Hauck, and the subsequent integration.
Bardon, who has held senior positions at Deutsche Bank, Bank of America and State Street Alternative Investment Solutions, will be joined by new hire David O’Neill, who joins as chief operating officer, on 15 May in Ireland.
He previously worked at The Asset Management Exchange as head of investment and fund services.
Holger Sepp, a member of Hauck’s management board, said Bardon and O’Neill were “experienced experts” who were “excellently connected within the Irish funds world”.
“They are therefore ideally prepared to further enhance the growth of our Irish fund business,” he said.
“Ireland is the second largest European fund hub after Luxembourg and our Irish company is therefore a very important strategic element with regard to the international growth strategy of the Hauck Aufhäuser Lampe Group.”
Hauck added that following the full integration of the two firms, it would increase its shareholding in Crossroads to 100%, as part of its move to expand beyond the German-speaking market it serves now.
Loughrey joined Crossroads as managing director and chief investment officer in December 2015.
Prior to his appointment, he was head of alternative investments and third-party funds at KBC Fund Management, with responsibility for managing the alternative investments team, in addition to coordinating the activities of the third-party fund advisory business.
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