ICG hires deputy CFO

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

Based in London, Savjani will report to Philip Keller, ICG’s chief financial officer, who said in a statement that, like all firms, additional resources were needed to satisfy increasing risk, compliance and governance demands from stakeholders. 

Savjani will take responsibility for the debt firm’s risk, compliance, legal and audit functions across a team of seven people.

Previously, Savjani was director of legal and risk at Scottish Widows Investment Partnership, now known as Aberdeen Asset Management. Before that, he was global chief risk officer at Aviva Investors, having joined from Ernst & Young.

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