A new director for Doric

Doric Capital has appointed Yves Bonavero as an independent non-executive director. Bonavero will assist Michael Nock, managing director of Doric, to build the business and oversee the strategic development of the Doric Focus Fund.

Bonavero began his career with the Man Group and rose to be its chief executive. It was under his leadership that Man first made a push into alternative investments. He laid the foundations of what today is the world's largest hedge fund manager.

"He's one of the most incredibly brilliant thinkers I've ever had the honour and privilege to work with," says Nock. "Having him on board is a great coup for Doric." Bonavero's input to Doric will include helping with the development of the fund management business.

"He's already had a significant input into the establishment of much of our risk management and new investment guidelines," Nock adds.

Nock himself was the founder of Anderson Man Investment Services, now Lippo Securities, and subsequently, from 1987 to 1990, was managing director of ED & F Man, the Hong Kong listed subsidiary of ED& F Man, now Man Group. He went on, among other things, to become managing director of two subsidiaries of the Mingly Corporation providing investment management and financial services.

Doric was actually set up by Nock as a subsidiary of Mingly, but in July 2000 Nock bought the company out.

Bonavero is a French national and is fluent in English and French. He has over 25 years experience working in the securities, real estate and logistics industries in Europe. Over the past seven years, he was founding director of Kensington Group, a mortgage lender successfully listed in the London Stock Exchange in November 2000. He also founded DOM Development, Warsaw's second largest residential developer, as well as Europa Distribution Centre, Poland's largest logistics and light industrial developer.

Bonavero joined Doric on July 1 and is based in London.