Fortress announces Roger Cave to be appointed Chairman of the Board and Peter Arender to be appointed Chief Executive Officer

Bridgetown, Barbados, March 1, 2023 – Fortress Fund Managers today announced that Founder and Investment Director, Roger Cave, will be appointed Chairman of the Board, effective June 1, 2023, following the retirement of current Chair, John Williams, who will continue as a non-executive director.

The organisational changes at Fortress coincide with Roger’s appointment to Group Chief Executive Officer of Cave Shepherd & Co. Ltd effective June 1, 2023, following the retirement of John Williams from that role. While Roger’s new responsibilities at the Cave Shepherd Group level mean that he will be stepping away from executive duties at Fortress Fund Managers, he will remain actively involved through his role as Chairman of the Fortress Boards and the company will continue to benefit from his knowledge, expertise and guidance.

Roger launched Fortress Fund Managers Limited, a subsidiary of Cave Shepherd & Co. Ltd., in 1996 and the company now manages and administers 12 mutual funds on behalf of over 6,000 shareholders, together with pension plans for over 70 companies, representing some 4,000 employees. Having recently surpassed BBD $800 million in assets under management, Fortress has been a real success story, built from the ground up.

Peter Arender to be appointed Chief Executive Officer of Fortress Fund Managers

Also effective June 1, 2023, and subject to relevant approvals, Peter Arender, Chief Investment Officer at Fortress, will be appointed CEO to fill the position vacated by Roger Cave.

Peter, who joined the company in 2009, has been and will continue to be responsible for investments across Fortress’ range of funds. With over 30 years’ varied experience in financial markets, nearly half of which has been with the team at Fortress, he is ideally placed to lead the company through the next stage of its development.

Over the last 14 years at Fortress, Peter has driven the transition from primarily regional investments to the company’s current offerings and capabilities covering regional, U.S., international and emerging markets. Prior to his long-standing role at Fortress, Peter was Chief Investment Officer of a privately held offshore bank in Barbados, Portfolio Manager at Acker Finley Asset Management, and a Vice President of Institutional Bond Sales at Toronto Dominion Securities.

Collaborating closely with Roger Cave as Chairman, Peter will continue to make achieving positive investment performance and strengthening Fortress’ service and reach, the company’s key strategic goals.

We congratulate Roger and Peter on their respective appointments.

ENDS
Fortress Fund Managers has developed a reputation of being a trusted manager of mutual funds in Caribbean and global markets. Its slate of funds covers the asset classes of equities and fixed income, providing stellar performances over the years. Fortress is also a leading provider of pension management and administration services to companies of all sizes, and to individuals.