An investments firm yesterday announced a new president and CEO.

Hamilton-based AFL Investments said Joel Schaefer will take over in the top job and be responsible for the overall investment business, as well as in charge of the firm’s strategic plan and management of discretionary accounts of super-rich individuals, institutions and foundations.

Mr Schaefer joins the company with more than 20 years of experience and most recently managed the private investments of a wealthy European family.

He has also been president and CEO of Capital G Investments and is a qualified chartered financial analyst and has a Bachelor’s degree in economics from Wesleyan University in Connecticut.

In addition, the firm has also taken on a new senior investment officer and wealth manager and a new wealth manager.

Simon Giffen will assist Mr Schaefer in the firm’s strategic development and provide investment advice to clients.

And Julie Preece will join AFL as wealth manager, responsible for client services and she will also conduct seminars to help educate existing clients and the wider community about the benefits of investments.

Alison Hill, CEO of the Argus Group, which runs AFL as a joint venture with Canada-based international financial services firm Cidel Bank and Trust, said the new staff brought “a wealth of experience and insight” to AFL customers.

Ms Hill added: “Joel and Simon have proven track records of delivering exceptional value to individual and institutional investors and Julie brings stellar client relations experience.

“Combined with the investment tools available from our joint venture partner, Cidel, the team has the expertise to allow AFL to expand its current offerings to high net worth individuals.”