Bermudian-based Hudson Structured Capital Management Ltd, which does its (re)insurance business as HSCM Bermuda, has appointed Jeff Sangster as chief operating officer and head of strategy.

Mr Sangster, who is based on the island, has served as chief financial officer and head of strategy since joining HSCM in 2019.

In his new role, he will oversee all non-investment functions for the firm including finance, human resources, legal, compliance and corporate operations.

The company said Mr Sangster will continue to lead the firm’s strategic initiatives and planning alongside US-based Matt Berdoff, who has been named deputy chief operating officer.

Mr Berdoff has been with HSCM since its inception in 2016, serving as the firm’s head of investor relations.

He will continue to operate as head of IR while expanding his work alongside Mr Sangster to lead the firm’s non-investment functions and strategic initiatives onshore.

Bermuda-based Bernard Opoku has been named managing director and chief financial officer, replacing Mr Sangster as the leader of the firm’s finance function.

Mr Opoku has been with HSCM since 2018, when he joined as a controller on the firm’s finance team.

Prior to being named chief financial officer, he served as managing director and chief accounting officer.

Before joining HSCM, the company said, Mr Opoku worked for KPMG in Bermuda where he served as senior manager and a key member of KPMG’s insurance linked securities practice.

“We are thrilled to have Jeff stepping up to COO,” said Michael Millette, managing partner of HSCM. “Together with Matt, Jeff’s leadership will help guide HSCM’s growth trajectory thoughtfully and strategically in the coming years.

“Bernard has done a wonderful job since joining our team five years ago and I cannot think of a better fit to take over for Jeff in the CFO seat.”

Mr Sangster said: “I am excited for this next step at HSCM and look forward to working closely with Michael, Matt, and our extremely talented team to support our investment teams and continue to deliver value for our clients.”

US-based Andrew Sagon has been promoted to managing director at HSCM and partner in HSCM Ventures, the firm’s insurtech-focused venture capital arm.

HSCM Bermuda also promoted island-based Sam Bridges and Theo Wolffe to associate.

HSCM is an asset manager focused on alternative investments seeking mezzanine level returns.

It invests across the re/insurance and transportation sectors.

The firm launched in 2016 and said it focuses on core economic sectors that are likely to outgrow global GDP, offer low correlations with broader markets, and are experiencing a shift from balance sheet and to market financing.