Island-based investment adviser AlphaCat yesterday announced Bernard Van der Stichele as its new portfolio manager.

Mr Van der Stichele joins AlphaCat, part of Validus Holdings, from AQR Capital Management.

Lixin Zeng, chief executive officer of AlphaCat, said: “We are delighted to welcome Bernard to the AlphaCat team.

“With his impressive track-record and extensive knowledge of insurance-linked securities and reinsurance asset classes, we are confident that he will add tremendous value to AlphaCat.”

Mr Van der Stichele has more than 15 years of institutional investment management experience to AlphaCat.

Before joining AOR, he was a senior investment analyst at Ontario Teachers’ Pension Plan, where he developed its first direct ILS investment strategy.

The appointment is subject to Bermuda immigration approval.

In addition, Chris Silvester, Validus Services’ executive vice-president and head of US property underwriting, will assume primary responsibility for AlphaCat’s reinsurance business origination.

As well as his role as head of Validus Services’ US property team, Mr Silvester will continue to report to Validus Services’ executive vice-president and chief underwriting officer Jeff Clements.

Mr Clements said: “As a proven business development leader, we look forward to having Chris further strengthen our offerings.”