Stenham, the London-headquartered investment management group, has expanded its operations in Bermuda and the Caribbean with the hire of Paul Bailey as an exclusive consultant for the region – a role in which he is tasked with developing the firm’s relationships with key professional advisors and their clients.

Mr Bailey has been focused on assisting advisors and their clients in offshore markets, including Bermuda, the Caribbean and the Channel Islands, for a number of years, and his prior career includes a ten-year period with GAM in Bermuda and London.

The appointment of Mr Bailey is an important step in Stenham’s growth strategy for offshore markets, Harry Wulfsohn, the firm’s director and head of institutional business development, said in a statement.

“Bermuda and the Caribbean have recognised for some time the benefits of absolute return strategies, including alternative investments, as an important tool to improve diversification and reduce volatility,” he said.

Stenham currently manages about $5.4 billion, of which $2.5 billion is managed through its multi-manager hedge fund portfolios.