New MD for Abacus

Manx based Abacus Financial Services Limited has appointed Paul Kneen as its new managing director.

Mr Kneen joined the company as a client director last May and replaces Andrew Ashworth, who is to combine semi-retirement with work in a new role as an industry consultant.

Mr Kneen is Manx born and previously held management positions with both Fortis Fund Services and Bank of Bermuda Limited in the Isle of Man, prior moving to Bermuda in the year 2000.

In Bermuda he worked initially as director and head of, International Corporate Management of Bermuda Limited, and more recently as head of the banking and custodial operations of its parent company, Bermuda Commercial Bank Limited.

During his tenure in Bermuda Mr Kneen sat on the board of the Bermuda International Business Association and was a member of its Collective Investment Scheme committee.

He has held numerous board positions on a varied range of offshore fund and holding company structures, and brings considerable expertise in the establishment and development of offshore fund vehicles.