Tim Faries has been appointed as chief executive officer of Appleby Global Services. He is managing partner in Appleby’s Bermuda office and heads up its insurance practice. He will lead the AGS board of directors, whilst also focusing on product innovation and strengthening the foundational elements of AGS’ vision, mission and values.

Mr Faries will also be continuing with his existing responsibilities at Appleby.

He is joined by Gareth Russell, who has taken the role of chief operating officer at AGS. Mr Russell is responsible for leading worldwide sales, field marketing and management of AGS’ business operations.

Mr Faries said: “This is a really exciting time to be joining the AGS business, which has grown significantly during its first year of operation. We understand the importance of becoming an efficient and resilient market leading provider of corporate, fund and trust services and with the help of our dedicated and highly experienced team, I am looking forward to leading the business on this journey.”

AGS was launched by Appleby last year. It provides a range of administration, reporting and fiduciary services primarily focused on corporate structures.