Peak Capital, the insurance-linked securities (ILS) investment fund manager operation of Hong Kong based reinsurance firm Peak Re, has made a new hire, adding Derrick Holmes as its new Head of Finance, Operations and Compliance.
Based in Bermuda, Holmes joins Peak Capital from his most recent role at Pillar Capital Management Limited, a Bermuda headquartered specialist collateralized reinsurance and insurance-linked securities (ILS) investment manager.
Holmes is the first senior addition at Peak Capital since the ILS fund management unit of Peak Re lost a number of senior employees, underscoring the challenges new ILS ventures have faced in retention, so it’s encouraging to see the company adding new staff.
Holmes brings over a decade of accountancy and audit related expertise, as well as specific insurance-linked securities (ILS) financial management experience gained through working at Pillar Capital Management for almost five years.
He began his career in audit, working for Grant Thornton LLP and Allen, Paquet & Arseneau in New Brunswick, Canada.
Holmes then moved to Bermuda in 2015 and joined KPMG, where he worked as an Audit Senior with a focus on insurance and reinsurance markets.
Holmes then joined ILS fund manager Pillar Capital Management in 2017 as an Accountant, before progressing into the role of Financial Controller at the ILS manager in 2020.
He joined Peak Capital this month and now takes charge of finance, operations and compliance for the ILS investment management unit of Hong Kong headquartered reinsurance firm Peak Re.