Joel Schaefer has resigned as president and CEO of Capital G Investments Ltd after ten years at the helm to take up a new role as president and chief investment officer for a family office registered in Bermuda.

Mr Schaefer will continue to serve as a director of Capital G Investments.

Having joined Capital G Investments in November 2001, during his time at the company its assets under management grew from $135 million to $1 billion and he oversaw the acquisition of Assante Asset Management (Bermuda) Ltd, the amalgamation of Kast Investment Management Ltd and the acquisition of Orion Ltd.

Other key accomplishments included the establishment of the GVF Preferred Fund, the growth of Global Voyager Funds, the improvement of Capital G Investments' efficient frontiers and the merger of the relationship manager investment function with Capital G Private Banking to offer high net worth clients an integrated wealth management solution.

Mr Schaefer also served as co-chief investment officer for Capital G Bank Ltd and participated as a member of the company's asset liability committee.

“I am very grateful to Capital G and in particular to the Gibbons family for the opportunity to have contributed to the growth and evolution of Capital G Investments Limited,” said Mr Schaefer. “It has been an extremely rewarding experience which has allowed me to build life-long relationships with clients and internal and external peers and colleagues.”

He continued: “I am honoured to have been asked to continue to serve as a director of Capital G Investments and look forward to providing guidance and advice on the expansion of investment function of Capital G.”

James Gibbons, president & CEO of Capital G Bank Ltd, said: “We would like to sincerely thank Joel for his valuable contributions over the last ten years. He is indeed a member of the Capital G family and we wish him well in his new role. Joel joined the company shortly after the bank was awarded its licence in October of 2001, and since that time has grown the business successfully to where we are today.”