ICG appoints global chief risk officer

Bindesh Savjani joins Intermediate Capital Group from Aberdeen Asset Management.

Intermediate Capital Group has hired Bindesh Savjani as global chief risk officer in a newly created role.

Savjani assumes global responsibility for risk, compliance, legal and internal audit, across a team of seven people. Based in London, he will report to Philip Keller, ICG’s chief financial officer.

Previously, Savjani was the director of legal and risk at Scottish Widows Investment Partnership, now known as Aberdeen Asset Management.

During this tenure he was responsible for legal, regulatory risk, investment risk, operational risk and governance.

Before joining Scottish Widows, Savjani was global chief risk officer at Aviva Investors, having joined from Ernst & Young.

Keller said in a statement: “Bindesh Savjani has an excellent background in global risk management, having worked in both consulting and large asset management houses, we are pleased to have attracted someone of his calibre to join ICG.

“ICG has grown rapidly over the last three years and like most asset managers the demands of regulators, shareholders and our investors for increased risk, compliance and governance makes this new role a very important addition to our business and will be key in helping deliver our strategy,” he added.

ICG had assets under management of roughly €20 billion invested in private debt, mezzanine, credit and minority equity funds, as of 30 June. The firm specialises in mid-market transactions and invests its own €2.3 billion of capital alongside third party funds of €17.9 billion.