Alcentra has announced that Vijay Rajguru is to step down as chief investment officer, resulting in a reorganisation of its top team.
The firm, which is the private debt arm of BNY Mellon, has made three senior appointments in response. Daniel Fabian has been promoted to the role of president, while Rajguru is to be replaced by two co-chief investment officers, Graham Rainbow and Leland Hart, who will join Alcentra’s senior leadership team.
In his new role as president and COO, Fabian will manage the firm’s growth strategy and oversee day-to-day operations. He has spent the past 12 years at Alcentra, the last four as COO and CFO.
Alcentra’s CEO, David Forbes-Nixon, said: “Daniel’s deep understanding of the investment management industry over 20 years makes him extremely well suited to implementing our ambitious growth agenda as we invest in our people, technology and operations to drive the next phase of Alcentra’s growth. Additionally, this structure will provide me with more time to focus on our clients and the investment side of the business.”
Rainbow was previously head of European loans at Alcentra and Hart was head of US loans and high yield. They are based in London and New York respectively. The pair will retain their current portfolio management responsibilities, but the firm said the dual role was created to accommodate Alcentra’s growth across product strategies and to deal with growing investor demand.
Rajguru is leaving to pursue other opportunities.