Permira appoints James Fraser as head of financial services

Fraser previously spent 20 years with L.E.K. Consulting in the UK, US and Australia, most recently as co-head of the firm’s global financial services practice, responsible for advising corporates and private equity firms on transactions in the sector, managing client relationships at board level and leading the financial services sector team.

Over the past 14 years he has focused exclusively on the financial services arena and gained in-depth understanding of a broad range of sub-sectors including asset management, insurance, banking, financial technology and infrastructure and private equity.

Fraser’s recruitment is the latest of a series of recent hires aimed at strengthening Permira’s financial services expertise, and follows the recent appointments of Gerrit Zalm and Dan Healy as senior advisers and John Coyle as co-head of the New York office, all with financial services backgrounds.

Permira has previously invested in financial services through the AA and Acromas, the holding company formed following the merger of the AA and Saga in September 2007. Through the two companies, Acromas is the leading affinity insurance provider to UK motorists and the leading provider of products and services aimed at people aged 50 and over.

 ‘Permira sees significant opportunities for investment in financial services, and James’s in-depth knowledge of the industry and considerable transaction experience will enable us to significantly strengthen our presence in this sector,’ says the firm’s co-managing partner Kurt Björklund. ‘We have worked closely with James in the past and believe that he will be an excellent addition to our team.’

Says Fraser: ‘Permira has an outstanding track record over the past 20 years. Having spent the past 14 years focusing on the financial services sector, I believe that the industry is going through a particularly challenging period which will result in many attractive investment opportunities.’