- Omni Bridgeway (OBL) Chief Executive Officer and Managing Director Andrew Saker announces his retirement after more than eight years in the role
- Mr Saker will step down after the company’s annual general meeting on October 26, with Raymond van Hulst named as his replacement
- Omni Bridgeway Chairman Michael Kay said Mr Saker played a pivotal role in helping the company “scale rapidly, at lower and, as the funds mature, at higher risk-adjusted returns”
- The company says Mr van Hulst is an experienced executive, “highly regarded within the global legal risk asset management industry”
- OBL shares are down 4.9 per cent, trading at $3.69 at 12:28 pm AEDT
Omni Bridgeway (OBL) Chief Executive Officer and Managing Director Andrew Saker has announced his retirement after more than eight years in the role.
Mr Saker will step down from the role after the company’s annual general meeting on October 26, with Raymond van Hulst named as his replacement.
Omni Bridgeway Chairman Michael Kay said Mr Saker had been an “extraordinary” CEO during his tenure.
“Andrew and his team have built a truly global platform, with businesses in Australia, the United States, Asia, the UK, continental Europe, and the Middle East,” Mr Kay said.
“The company has transformed from a balance sheet funder to a co-investor and manager of non-recourse funds investing in legal assets in eight funds managing approximately $3 billion.”
Omni Bridgeway said Mr Saker had agreed to move into a consultancy role as a non-executive advisor for one year after he stepped down as CEO.
The company said his replacement, Mr van Hulst, was “highly regarded” and “one of the most experienced executives” in the global legal risk asset management industry.
“Since the merger of the Omni Bridgeway and IMF businesses in 2019, Raymond has been the leader of our UK and EMEA businesses and a member of the OBL board,” Mr Kay commented.
“Raymond has demonstrated himself to be a first-class leader and has developed a deep and intimate knowledge of the asset classes and the markets in which we operate.
“We very much look forward to working with Raymond and taking Omni Bridgeway to the next level in being the industry-leading global manager of legal assets.”
Mr van Hulst said he was looking forward to building on Mr Sakers’ vision of globalisation and was excited by the “significant opportunities” that lay ahead.
OBL shares are down 4.9 per cent and trading at $3.69 at 12:28 pm AEDT.