Opalesque Industry Update: Permal Group has today announced that it has hired Richard Cordsen as Executive Vice President of Business Development and Investment Advisory. Mr Cordsen starts on 2 April 2012 and reports to Omar Kodmani, President of Permal Group.|
Mr Cordsen was previously a founding member of Woodbine Capital Advisors, where he was the Director of Investor Relations. Before joining Woodbine in 2008, Mr Cordsen spent nine years at Permal, latterly as Regional Director (Americas), with responsibility for product distribution.
Mr Cordsen’s Permal role is new and includes developing and identifying product opportunities globally, supervising marketing efforts, and working closely with Isaac Souede, Permal Chairman and Chief Executive, and Professor Zhiwu Chen, a Consultant and Adviser to Permal, in developing its presence in Asia, particularly China.
Permal Group today manages approximately $20 billion, with offices in nine international financial centers, including New York, London, Dubai, Singapore, Hong Kong and Tokyo.
Omar Kodmani commented: “We are delighted to welcome Richard back to the Permal fold. He has huge experience in the alternatives field and is an ideal fit for this new role. His rejoining also coincides with a number of new and exciting initiatives we are working on around the world.”