PraxisIFM has appointed a group finance director following significant growth in 2016 which saw two acquisitions and expansion of its global reach.
Peter Bruges takes up the newly created role, which encompasses group financial reporting, corporate governance, corporate finance as well as supporting the development and expansion of the business.
‘Peter has a wealth of experience across a broad range of sectors. He is the perfect fit for PraxisIFM, which is one of very few independent financial services groups with a global footprint headquartered in the Channel Islands,’ said Simon Thornton, group CEO at PraxisIFM.
Mr Bruges has held senior finance, IT and programme management roles in the retail and finance sectors. Having run a sales business in the UK, he held the position of head of internal audit and finance programmes at Specsavers Optical Group, and became a Fellow of the Association of Chartered Certified Accountants in 2005.
In 2008 he joined Terra Firma to establish the Guernsey office as finance and operations director. Mr Bruges has also held CFO roles with The Channel Islands Co-operative Society and Hark Capital, a family office where he remains on the investment committee for the family trusts.
Mr Bruges said it was an exciting time to join PraxisIFM, which now has 300 staff across 10 jurisdictions.
‘The sector is in an interesting position – smaller companies don’t want to lose their heritage and culture by being acquired by large banks or private equity firms, but an acquisition by a private group like PraxisIFM is more attractive, as it adds value and creates opportunities for shareholders, staff and clients,’ he said.
‘I intend to use the experience I have gained in previous roles to assist PraxisIFM in achieving further growth.’