Carlo Desierto has been appointed president of Vancouver-based PenderFund Capital Management Ltd.
Desierto joins PenderFund from Manulife Investment Management in Boston, where he served as managing director for private markets.
Prior to joining Manulife, he spent five years in London, U.K., working for HSBC Asset Management and a boutique family office, a release from PenderFund said.
Desierto succeeds David Barr as president. Barr will remain PenderFund’s chief executive officer.
“We are delighted to welcome Carlo, who brings incredible depth and breadth of experience to Pender,” Barr said in a statement. “Our plans are centred around accelerating our growth in private equity and institutional asset management, and Carlo will be leading the strategy in these mission critical areas.”
In June, PenderFund appointed Geoff Scott as senior vice-president, investments.