FundRock is strengthening its governance model appointing two new Independent Directors to its UK BoD and setting up UK Strategic Committee.

FundRock Partners Ltd (FP), the ACD business of FundRock Group, announced that it has appointed Michael Vareika and Eric Personne as Independent Non-Executive Directors to its Board of Directors, subject to the FCA approval.
FundRock’s Board regularly evaluates its composition to ensure it includes the appropriate skills, experience and perspective necessary to drive growth.
Michael Vareika has over 14 years of experience as an independent director, occupying board positions for leading institutions from across the world, for a large variety of fund and company structures. Michael, who is a Harvard Business School and INSEAD alumnus and holds a Master in Law from University of Louvain, has vast experience in the financial industry and a deep knowledge of the fund business. He is an Independent Certified Director of Companies – ILA Certified (Institut Luxembourgeois des Administrateurs) since 2013, INSEAD (IPD-C) since 2014 and Member of the IoD (Institute of Directors, London) since 2018.
The appointment of Michael, who already acts as chairman of the board of FundRock Management Company S.A. (FRMC), is part of FundRock’s ongoing integration of its third party management company business model. Michael will act as the Chairman of the UK Board, subject to the regulatory approval.
Eric Personne is an industry expert with over 20 years’ experience in the investment banking and asset management sector. He brings deep knowledge and expertise in numerous asset classes and fund structures and strong commitment to governance and regulatory affairs gained through his tenure in some of the world’s largest banking groups. A London resident since 2007, Eric has extensive experience in senior management roles in the City, most notably as Global Head of Fund Solutions Group at Merrill Lynch and Global CAO in Citigroup’s Equities Division. Prior to moving to the UK, Eric worked in Paris and Tokyo for Société Générale and was CEO of Lyxor Asset Management.
Eric is an École Polytechnique alumnus and continued his academic education with postgraduate studies in Finance in École Nationale des Ponts et Chaussées and Dauphine University. Eric will cover the CF2 role and act as Chair of the Audit Committee, subject to the regulator’s approval.
FP has also proceeded to the creation of a UK strategic committee to guide the Board in strategic initiatives and facilitate long term profitable growth. This committee is composed of FundRock executive management members: Xavier Parain (chairman), Paul Spendiff, Serge Ragozin and Victor Ondoro, independent directors: Michael Vareika and Eric Personne and strategic advisors: Jeremy Bezant and Kevin Brown.
Jeremy Bezant is an asset management and distribution expert with extensive experience in fund solutions, structuring and product development and a thorough knowledge of the ACD business. A PhD holder, Jeremy started his corporate career at Aviva Investors and later worked in large asset management firms such as Natixis, Neuberger Berman, Alliance Bernstein. Most recently, he has been advising UK asset managers with their Brexit strategy and planning.
Kevin Brown is an accomplished executive and former Chairman of the Board at FundRock Management Company. He possesses extensive fund industry knowledge and board experience. Kevin is a career banker with 35 years of experience, currently undertaking a number of independent board/committee roles with Financial/Telco Regulators and the Bank of England together with payment related fintech opportunities as an investor and advisor.
The addition of the 2 new Independent Directors and the creation of the UK strategic committee are expected to accelerate integration within FundRock Group, solidify FundRock’s roots in the UK market and further strengthen its corporate governance model.
Xavier Parain, Group CEO of FundRock said: “We are pleased to welcome Michael and Eric as independent directors to our UK Board. FundRock will immensely benefit from their deep knowledge and rich experience in business and corporate governance and we are delighted that they will be bringing their insight and acumen to our Board. Strongly committed to good governance practices, we have also set up the UK Strategic Committee with the contribution of external advisors. We are confident this mix of professionals who complement each other’s skills and experiences, will provide valuable perspectives as we continue to execute our strategy and enhance value for our clients.”