The Bank of New York has appointed Frank Froud as managing director and client executive for UK fund managers from EMC. Ian Hards joins as managing director and client executive for UK investment managers and country head for Scotland from IBM Consulting.
Frank Froud was group chief information officer at Schroeder’s from 1996 to 2001, with global responsibility for asset management, retail funds and private banking applications and infrastructure. He was previously director of information technology, Mercury Asset Management. He joins Bank of New York from EMC, a software company, where he was Executive Director Business and Organisational Development.
Ian Hards was senior executive, IBM Consulting, with responsibility for UK investment management consulting following the merger of the consulting businesses of PriceWaterhouseCoopers (PWC) and IBM. He was previously UK head of investment management for PWC, having joined the firm in 1983.
“The outsourcing needs of the European fund management industry are becoming increasingly demanding and complex,” says Jeff Tessler, executive vice president and general manager in Europe for The Bank of New York. “We have responded to this challenge by building a team of senior client relationship managers with in-depth, practical knowledge of our clients’ businesses who can provide strategic advice at the highest level. The appointment of Frank and Ian, both of whom have achieved leading roles in their respective fields, demonstrates our ongoing commitment to our clients.”