Ireland Strategic Investment Fund, International Investment Funds Association, Castle Harbour Securities, Scope Ratings, Delta Management ConsultingIreland Strategic Investment Fund – Donal Murphy, former head of project finance at the Bank of Ireland, has joined the National Treasury Management Agency as head of infrastructure and project finance for the new sovereign development fund. Ronan McCabe, until last month senior portfolio construction analyst at Pioneer Investments, has also joined the ISIF. International Investment Funds Association (IIFA) — Thomas Richter has been appointed deputy chairman of the International Investment Funds Association, at the association’s AGM in Canberra, Australia. Richter is chief executive of the German Investment Funds Association (BVI). Along with Paul Stevens of the Investment Company Institute (ICI), who is the newly-elected chairman of the IIFA for two years, Richter is to focus on a stronger positioning of the investment industry with regard to global regulation initiatives.Castle Harbour Securities — Damien Regnier is joining Castle Harbour Securities to co-manage new fund Pure Global Convertibles. He previously managed Deutsche Asset & Wealth Management’s (DeAWM) DWS Invest Convertibles fund. Before joining DeAWM in 2010, Regnier was head of long-only convertible bonds at Vega-Chi, having been a convertible bond trader at JP Morgan’s investment bank before that. Scope Ratings — Karlo Fuchs, Florian Stapf and Annick Poulain Thomas are among six people to be appointed by the rating agency, following the hiring of Torsten Hinrichs two months ago as chief executive of the company. Fuchs has been appointed as head of covered bonds, having been senior director in charge of covered bonds at Standard & Poor’s (S&P) for the past 15 years, while Stapf is to become executive director in charge of the business development of corporates, banks and bank bond ratings in Germany, Austria, Switzerland and Scandinavia. Stapf comes to the company after 14 years at S&P, where he was responsible for client business management and business strategy for companies and financial institutions. Poulain Thomas has been hired to take over Scope Ratings’ analytical review function and has worked at Moody’s for more than 19 years. Carlos Ignacio Terré has been hired within the structured finance team as executive director, following a role as director of structured finance at Fitch Ratings in Madrid. Michael John Mackenzie is to become a London-based executive director, supporting structured finance business development. Before this, he was in charge of structured finance business development for the EEMEA region at DBRS and S&P in LondonDelta Management Consulting — Bernd Baur and Peter König have set up new investment consultancy firm in the German institutional market Delta Management Consulting, and are the firm’s founding partners. Each has more than 25 years experience in the asset management industry. Baur’s previous roles include equity portfolio manager at Commerz International Capital Management, chief investment officer at Metzler Investment and COO and head of institutional clients at Union Institutional. König, meanwhile, was previously head of asset allocation and currency management at Commerz International Capital Management, worked in product development at Commerzbank Asset Management as well as having been head of Central Europe at Morgan Stanley Investment Management.
Related posts:What’s going on at Crucitas? Operation Lapa-1 in Crucitas Oscar Arias’s Crucitas case dismissed; prosecutor plans appeal Canadian mine case against Costa Rican ex-president reopened A recent study by the National University (UNA), through its Institute for Studies on Toxic Substances, warned of a “very probable” and “significant” affectation of aquatic ecosystems at Crucitas, which has been contaminated by mercury used by illegal mining groups to extract gold from the area.The institution took samples of fish, plants, water and sediments, inside and outside the areas that are being used for illegal mining (from the Caño Crucitas micro basin and the lower Infiernito river basin to its mouths in the river San Juan), igniting alarms about a probable and “important affectation of the aquatic ecosystem, both local and downstream.”According to the preliminary study, dated Sept. 19, “the highest levels (of mercury) were present in the samples taken directly in the impact areas.” However, “the high removal of soil material, the expansion of the water bed by the amount of sediment in suspension, the release of organic matter, all in combination with heavy rains in the area, would generate a displacement of mercury” in the zone.The study was carried out at the request of the Ministry of Environment and Energy, and the objective was “to identify the presence of mercury in the affected area.”The report says it will seek to “a second phase of long-term monitoring of the environmental behavior of biota, water and soil, as well as of residents in direct or indirect contact with the metal” to “identify the areas of greatest risk and to support with scientific data the actions of the state entities.”Concerns about health impacts in the area have existed since the beginning of 2017, when the presence of non-sanctioned mining groups in the area increased.Crucitas was the planned mine location for Canadian company Infinito Gold during the administration of President Óscar Arias. However, that initiative was suspended in 2010 after pressure from activist groups, academics and environmentalists, who questioned the imminent environmental impact a gold mine would have in the country.However, the territories are now overrun by amateur gold-seekers, who use mercury to amalgamate the gold they extract from the stone fragments in the area.The UNA report says mercury is “a highly toxic metal, both due to its easy migration between different environmental behaviors, as well as its persistence and ability to bioaccumulate, biomagnify and to form organic compounds.”This, warns the document, is a “potential risk” for birds, otters, sloths and other species that feed on affected fish and plants, whose exposure to mercury — once ingested — can cause behavioral disorders and health problems.In addition to all these damages, the specialists of the UNA determined that the gold miners generate other environmental damages in the surrounding wetlands, where they wash rocky material in the gorges, undermine roots of the trees, widen channels 10 times or more their original width, remove substrates and leave plastic trash.The report was released on in mid-December by the faction of the National Liberation Party (PLN) in the Legislative Assembly, where its head, Carlos Ricardo Benavides, denounced “the attention of the current authorities” who feel the results of “the previous government, which allowed hundreds of illegal gold minders to enter that area and have been amassed large businesses through illegal extraction.” Semanario Universidad LogoThis story was originally published by Semanario Universidad. It was translated with permission by The Tico Times. Read the original report here. Facebook Comments