Elementum Advisors has appointed Jeff Davis and Paul Barker as chief investment officers, marking a leadership transition within the firm’s catastrophe bond and collateralised reinsurance investment divisions.

Mr Davis has been named CIO of catastrophe bonds, while Mr Barker will serve as CIO of private ILS.

Both have been key in shaping Elementum’s investment strategies, and their promotions formalise a transition that has been under way for several years.

“We believe that after almost 30 years of managing ILS investment portfolios, now is the time to formally transition the leadership of Elementum’s investment process to Paul and Jeff, and that it will be in extremely strong and capable hands,” said John DeCaro, founding partner of Elementum.

Elementum’s founding partners, Mr DeCaro and Tony Rettino, will remain actively involved in the firm’s leadership, focusing on overall business management, strategy development and capital raising while continuing to provide oversight and investment guidance.

“Paul and Jeff have enhanced our investment process and broadened the range of investment strategies we are able to offer our clients,” Mr Rettino said.

“Their dedication and success in developing deep investment teams has bolstered our confidence in this decision, which is the culmination of a deliberate succession plan we have been executing over the past several years.”

Mr Barker, who will continue to lead Elementum’s Bermuda office, said: “I am grateful to John and Tony for trusting Jeff and me with the leadership of their well-built investment business.

“Elementum’s collaborative management style has already produced great opportunities for Jeff and I to work together, and I am excited about the prospect of deepening that synergy.”

Mr Davis added: “Earning the confidence of industry pioneers like John and Tony has been both humbling and motivating. I am excited to continue working with Paul and our respective teams towards delivering best-in-class service and strong investment results for our clients.”

The appointments reinforce Elementum’s commitment to internal development and succession planning and ensure continuity in its investment approach.

Elementum Advisors, an independent alternative investment manager specialising in collateralised natural event reinsurance investments, operates out of Chicago and Bermuda. The firm manages a diverse portfolio of risk-linked investments, ranging from catastrophe bonds to higher-alpha collateralised reinsurance.