Hayfin has appointed Raj Paranandi as chief operating officer (COO).
Paranandi joins the €33bn (£27.7bn) alternative asset manager from MarketAxess, an international financial technology company that operates an electronic trading platform for institutional credit markets, where he served as COO of EMEA and APAC.
He has over 25 years of experience in financial services, including 10 years in leadership positions at UBS.
He will be based at the firm’s London headquarters.
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As COO, Paranandi will succeed Mark Tognolini, who has been promoted to co-chief executive alongside Tim Flynn.
Hayfin said that the change in leadership reflects the “collaborative management style” that Tognolini and Flynn have maintained since co-founding the firm.
“I am excited to be joining Hayfin as the firm continues to experience strong growth,” said Paranandi. “With a deep origination network and unparalleled connections across the European market, the firm has established an enviable track record. I look forward to building on this as the business continues to scale, attracts talent and deepens its market footprint.”
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Flynn added: “Mark and I are delighted to welcome Raj as COO of Hayfin. His deep experience and record will put the firm in great stead as we accelerate our expansion and capitalise on the growing credit opportunities for our investors.
“This is an exciting period for the business. Our partnership with Arctos and established reputation for excellence enables us to navigate market volatility and geopolitical uncertainty while positioning the firm for continued success.”
Earlier this year, sports investment firm Arctos Partners acquired British Columbia Investment Management Corporation’s majority stake in Hayfin for an undisclosed amount.
Arctos has underwritten 100 per cent of the funding and will facilitate the Hayfin team becoming the majority owners of the common equity.
