Armajaro Asset Management today announced the appointment of Harry Morley as Chief Executive Officer, having previously been Group Finance Director of Armajaro Holdings since 2008. He takes on the role from Richard Gower, co-founder of Armajaro, who becomes Chairman of Armajaro Asset Management.

Prior to joining Armajaro, Harry spent the previous ten years working for a range of private equity backed businesses, and co-founded Tragus Holdings, the owner of the Café Rouge and Bella Italia restaurant chains, which was successfully sold to Legal & General Ventures in 2005. Previous to that, he worked for P&O for six years. Harry read law at Magdalen College, Oxford and qualified as a chartered accountant in 1991 with Price Waterhouse. He is also a non executive director of Bibendum Wine Holdings.

Armajaro Asset Management manages four commodity hedge funds and an emerging markets hedge fund with combined assets under management in excess of US$1.7 billion.

Harry Morley, Chief Executive Officer, Armajaro Asset Management, said:

"With five hedge funds across commodity and emerging market sectors, we believe Armajaro offers investors a unique and compelling investment opportunity. Investment in commodities as an asset class has been growing rapidly, particularly among pension funds and other professional and institutional investors. I look forward to continuing to develop the business and building on the existing momentum and potential for further growth."

Commenting on Harry's appointment, Richard Gower, co-founder of Armajaro and Chairman of Armajaro Asset Management, added:

"The business will benefit hugely from Harry's experience and expertise. He has worked closely with Armajaro Asset Management as Group Finance Director and as a member of the Armajaro Asset Management Risk Committee for the past two years. Harry is ideally placed to drive the business forward."