First Avenue hires CFO

Caroline Weir, a former partner and financial controller at NewSmith Asset Management, has joined the placement agent in London.

Placement agent and advisory firm First Avenue has hired Caroline Weir as chief financial officer, pfm has learned.

Weir will be based in the firm’s London office and will lead its financial function across its five offices in San Francisco, New York, London, Hong Kong and Sydney.

Weir has spent the last 17 years working in the asset management industry. She joins First Avenue from NewSmith Asset Management, an investment firm which provides alternative and traditional asset management services to corporate, institutional and government clients. At NewSmith, Weir served as partner and financial controller for more than 11 years. In this role, Weir was responsible for financial control, tax and regulatory matters for both corporate and fund entities. Prior to this, she spent six years working in Ernst & Young’s investment management group in both London and Jersey.

“Her depth of knowledge and wealth of experience is a significant asset as we expand globally and encounter greater financial complexity,” said Paul Buckley, managing partner and founder of First Avenue.

Weir takes over from the current CFO, Kate Lyon, who leaves at the end of the year after being with the firm for 8 years.

This is the second hire made by the firm this year. In April, First Avenue appointed Stefan Sarles as its first general counsel, as reported by pfm.

Among First Avenue’s clients are emerging markets specialist Actis, for whom the firm has raised infrastructure and growth funds, and M&G Investments, for whom it has raised two private debt funds.

Reporting by Nicole Miskelly.