Bermudian-based Ascot has promoted Michael Grayston to the position of group treasurer and chief investment officer and Sarah Thompson to the post of group chief accounting officer.

In his newly expanded role, Mr Grayston will be responsible for the implementation and oversight of the group investment strategy and the group treasury function at Ascot, including management of Ascot’s bank relationships, external debt and credit facilities and group liquidity management.

Ascot said Mr Grayston is a seasoned financial executive who holds the chartered financial analyst designation and has more than 30 years of experience across the insurance and asset management sectors.

Before joining Ascot in 2018 as group treasurer, he held senior investment and treasury roles at Ironshore Inc, HSBC Global Asset Management, the Ace Group and the XL Group.

Ms Thompson will be responsible for group financial reporting and accounting policy. She will also have finance oversight of strategic corporate initiatives including acquisitions and other transactions.

Ascot said Ms Thompson has an extensive 20-plus year accounting career in Bermuda with deep experience in insurance and financial services firms.

She joined Ascot in 2018 as group technical accounting officer, and previously spent time as corporate controller at Ironshore Inc and as technical accounting director at Alterra Capital Holdings Ltd. She earned her chartered accountant designation from the Institute of Chartered Accountants in England & Wales.

Mark Wilcox, Ascot group chief financial officer, said: “Both Sarah and Michael have proven themselves to be key members and trusted leaders within Ascot’s finance organisation.

“Their strong technical knowledge and exceptional financial acumen will be instrumental as we continue to scale our operations.”

He added: “These promotions also reinforce the strength of Ascot’s finance organisation, our deep bench of talent, and our commitment to the development and elevation of our colleagues across the organisation.”