MacGillivray to lead Ambassador cat bond fund following Tangency split
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MacGillivray to lead Ambassador cat bond fund following Tangency split

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Niall MacGillivray will become an employee of Embassy Asset Management and continue to oversee the firm’s Ambassador catastrophe bond mutual fund strategy as the company is set to end a prior partnership with Tangency Capital.

The former Nephila executive will become an employee of Embassy Asset Management from 1 November, filings show.

From that date, Tangency Capital will cease acting as the sub-adviser behind Ambassador, which was set up to raise capital to invest primarily...

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