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Former New Star boss joins Hermes

JOHN Mould, formerly a top executive at New Star Asset Management, has been named as chief operating officer of Hermes Fund Managers.<br /><br />Mould was chief operating officer at New Star before it spectacularly failed and was bought by Henderson in February. <br /><br />He was credited with the firm&rsquo;s stellar growth after it was created by renowned financier John Duffield in 2000. <br /><br />But it got into hot water after it took on dangerous levels of debt that became difficult to manage. <br /><br />Mould is set to assume control of Hermes&rsquo; central service functions, including finance, operations &amp; IT, risk &amp; compliance, legal and HR.<br /><br />Hermes said the appointment reflected the investment it is making to grow and evolve the business for the future. <br /><br />Chief executive Rupert Clarke said the firm has a commitment to &ldquo;investing in the highest quality executive team&rdquo;.<br /><br />Mould joined New Star after more than 10 years at Morgan Stanley, where he rose to become executive director and head of operational risk. <br /><br />Prior to Morgan Stanley, he was head of accounting at the Council of Europe after qualifying as an accountant at Price Waterhouse.