Bermuda-based Catlin Group Ltd. has appointed Patrick Wills as deputy chief investment officer.

Mr. Wills, who will join the international specialty property/casualty re/insurer in May and be based in its London office, will work alongside Nylesh Shah, who also holds the title of deputy chief investment officer, responsible for managing cash and investments of almost $7 billion.

Catlin is in the process of recruiting a chief investment officer as Preben Prebensen, who had held that position since 2007, resigned in February to become CEO of Close Brothers Bank plc. in London. Mr. Wills and Mr. Shah will report to Catlin's chief executive Stephen Catlin in the interim.

Mr. Wills joins Catlin from Montier Partners LLP in London, a firm that provides advice relating to hedge fund portfolios. As a partner at Montier his responsibilities included portfolio construction, risk management and hedging. Previously he held a variety of senior positions at Deutsche Bank, HSBC, Bear Stearns International and BNP Paribas. Before beginning his investment career, he worked at Catlin from 1987 to 1988 as an underwriting assistant.

Mr. Catlin said: I am delighted to welcome Paddy Wills on his return to Catlin.

"The events of 2008 have underscored the importance of investment management to insurers and reinsurers. Paddy has wide experience with some of the world s major financial institutions, and the combined talents of Nylesh and Paddy will provide Catlin with a strong and multi-skilled investment management team."

Mr. Wills said: "I am pleased to be rejoining Catlin, albeit in a much different role than the one I left 20 years ago. Catlin has grown spectacularly during the past two decades, and I am looking forward to working at such a well-respected company."