People

Founded in 2003

IRML was founded in 2003 by Yves de Naurois (formerly Head of Global Investment Process at Citibank Private Bank) and Peter Jeffreys (co-founder of Fund Research and former portfolio manager with Fidelity) in response to the growing risk monitoring needs of the asset management community. These requirements have largely arisen as a direct result of UCITS III and the increasingly complex nature of the instruments employed within today's investment portfolios, though best practice has preceded regulation and has been a significant driver towards more thorough and sophisticated risk monitoring.

"I would recommend IRML - the people are good and the service is good."

IRML staff experience

IRML staff have a wealth of industry experience from the areas of risk management, asset management, broking, index supply and backgrounds in equities, bonds and derivatives.

	Norman Riddell, Chairman Norman is Chairman of Norman Riddell & Associates Limited, an FSA-regulated company providing consultancy and corporate finance services to the financial sector. Prior to this, Norman was Chief Executive of INVESCO Europe, at the time one of the largest global quoted asset managers. Before joining INVESCO, Norman was Chief Executive of Capital House Investment Management Limited, an international investment management business which he created for The Royal Bank of Scotland. He was also a Director of other Royal Bank companies including Charterhouse, Royal Scottish Assurance and Charterhouse Venture Capital.

	Yves de Naurois, CEO Yves was Head of Global Investment Process at Citibank Private Bank and CEO of Citibank Luxembourg. Independent Risk Monitoring Limited’s exception-based process reflects Yves’ experience of quantitative tools obtained to control investment portfolios at Citibank Private Bank, including performance attribution and a variety of risk-factor models.

	Peter Jeffreys, Director Peter was co-founder of Fund Research Limited, which provided qualitative ratings on open and closed-end funds, and which was acquired by Standard & Poor’s in 1997. Prior to Fund Research, Peter was a portfolio manager with Fidelity International, and before that, with Schlesinger Investment Management Services. He has over 30 years investment management experience and is an Associate Member of UKSIP.

	Jim France, Director Jim has been active in the international structured credit markets for over 20 years. He established and was head of both the European securitisation business at Barclays and the Asian securitisation business at ING Barings, after which he acted as a consultant for various structured finance and mortgage lending projects in various emerging market countries. Previously, he had worked in the U.S. in the mortgage-backed securities group at Lehman Brothers and the asset securitization group at Goldman Sachs. Jim has an MBA from the Wharton School of the University of Pennsylvania and a B.Sc. in Computer Science from the Pennsylvania State University.

	Mohammad Nadjafi, Senior Analyst, Mohammad has a M.Sc. in electrical Engineering from the Ecole Polytechnique Federale de Lausanne. Mohammad was a partner at MBS Capital Advice in Geneva where he worked in the area of manager selection and performance and risk measurement. From 1999 to 2001 he was Senior Investment Officer and head of Swiss Asset Management at Banque SCS Alliance. He was the Founding Partner of Logical Investment, Geneva.

	Michael Burley, Head of Risk Michael joined IRML from the UK fund management arm of Allied Irish Bank where he was a senior risk analyst and project manager on regulatory compliance projects. Prior to AIB Michael worked in Private Wealth Management for KPMG.

	Chi Tsang, Risk analyst Chi is a PhD student in Theoretical Physics from Lancaster University. He has experience in the market as a trader in DAX futures and spot €/$ at Moraga Derivatives.

	Krishna Patel, Risk analyst Krishna is a graduate from King’s College London with a M.Sc. in Theoretical Physics. He joined IRML in 2007.

	Doanh Le Ngoc, Data analyst Doanh has a M.Sc. from the French "Grandes Ecoles". He has worked for scientific laboratories across France and Switzerland and developed a logical approach to process. He started working for private financial institute as a quant analyst and joined IRML in 2008.

	Duncan Welch, Head of IT Duncan has been working in the IT sector for over 12 years, coming from Charteris Plc, a medium sized IT development house and business consultancy in the city. He has worked with a range of companies, from small start-ups to large blue chip companies, such as Vodafone, Premium Credit Ltd (MBNA) and Global Crossing. He specialises in Microsoft development technologies.

	Shuhed Khan, System Development Shuhed obtained a BSc in Mathematics from the University of London followed by a postgraduate course in Software Engineering at Westminister University. He has worked for BAE Systems and Investment Property Databank Ltd as a Software Developer. Shuhed is currently studying for the MCSD (Microsoft Certified Solution Developer) qualification.

	Yi Wang, System Development Yi obtained his BSEng of Computer Science in China and has been working in the mobile & telecoms industry for four years before came to UK. After obtaining his MSc in Computer Science from University of London, he has been working in Cable Wireless UK as senior system developer and business analyst before joined IRML in 2008. His knowledge and experience cover Object Oriented Design, Database Design & Development and Networking.

To learn more about IRML, call Jim France on +44 20 7242 7800 or e-mail him on