Elementum, an alternative investment manager specialising in risk-linked investments, with principal offices in Bermuda and Chicago, has announced a new hire and a promotion.

John Drnek is joining as general counsel, Elementum (Bermuda) Ltd, this month from RenaissanceRe, where he provided counsel on legal, compliance and regulatory matters.

Previously, he was at Tokio Millennium Re overseeing the daily operations in Bermuda, and has also held roles at Mayer Brown, Hogan Lovells and Cadwalader in New York.

In addition, Elementum has elevated Lynette Pirilla Walter to chief legal officer. She has been with Elementum since 2014, first as outside counsel and then in-house beginning in 2019.

The firm said she is an expert in collateralised insurance and reinsurance products, catastrophe bonds and other insurance-linked securities and investment vehicles.

Ms Walter helped to build out the firm's legal and compliance functions. Prior to Elementum, she practiced at Sidley Austin, LLP, where she focused on a variety of corporate securities and regulatory matters, concentrating in the insurance and financial services industries.

Mr Drnek will work with Ms Walter and Elementum's leadership team to make “strategic enhancements to the firm's product and services strategy, navigate the regulatory landscape and ensure that the firm is best positioned to serve investors”, Elementum said.