Paratus names new chief financial officer

Paratus names new chief financial officer | Insurance Business Australia

Reinsurance

Paratus names new chief financial officer

He spent 29 years in Morgan Stanley prior to joining the firm

Reinsurance

By
Abigail Adriatico

Paratus Holdings Limited (Paratus) has announced the appointment of Russell Day (pictured) as its new chief financial officer.

Paratus Group CEO and founder Gus Majed expressed his enthusiasm for Day’s new role in the firm, noting his extensive experience in the industry.

“We are thrilled that Russell is joining the leadership team. He brings significant global institutional experience as a finance executive, and deep expertise within the energy sector. He will be instrumental as we execute our growth strategy to scale the business,” said Majed.

Who is Russell Day?

Day’s career within the energy sector began when he joined Morgan Stanley. In his 29 years with the firm, he held roles in senior finance such as EMEA & APAC commodities product control head, head of EMEA FIC product control, and managing director.

Prior to joining Paratus, Day was the co-head as well as co-CFO within the EMEA Institutional Securities Group. He also holds non-executive and advisory roles in consulting firm Detillens and startup battery technology developer Integrals Power.

On his appointment, Day spoke about the opportunity that came with being a part of Paratus.

“Paratus presents a unique opportunity to join a genuinely transformative business that has developed an innovative energy price risk insurance product that tackles the existential challenges facing businesses, industries, and the planet. I am hugely excited to support the team and be a part of its expansion,” said Day.

First launched in 2020, Paratus Holdings Limited is the first reinsurer underwriting energy price risk in the world, it claims. It is a portfolio company of global private equity and infrastructure firm Ara Partners that seeks to work with clients within the industries of renewable energy, maritime, and aviation in order to provide solutions against energy price risk, protect revenues, and enhances IRRs.

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