Independent brokerage and software group AKJ has hired its first in-house lawyer with the appointment of Tom Mackay, a former legal chief for the London Stock Exchange.
Mackay, who runs virtual firm Mackay Carter Shaw, has been advising AKJ on an external consultant basis for over 12 years. His appointment sees the group welcome its first official general counsel and in-house lawyer.
Mackay was head of legal at the London Stock Exchange between 1991 to 1993, when he joined Taylor Wessing as a partner where he worked mainly on London Stock Exchange matters. He also spent more than nine years at New York-based Curtis Mallet-Prevost Colt & Mosle.
AKJ’s decision to bring in a permanent in-house lawyer is based around one of its relatively new hedge fund solutions, AKJ Accelerator, with Mackay responsible for the global regulatory framework within the offering.
AKJ CEO Anders Kvamme Jensen said in a statement: “You need a good lawyer to set up a solid hedge fund, particularly in an industry where around 50 per cent of fund failures are due to operational and legal issues and I am confident that Tom brings the expertise we need to provide an excellent service to our clients.”
Mackay added: “Many fund managers get frustrated about the time and resource spent on setting up and running a hedge fund when they should be focusing their energies on trading. AKJ Accelerator offers managers the opportunity to outsource their operations to a single trusted provider, leaving them to get on with their day job.”
The group was established in 1995 and serves institutional and hedge fund clients in over 37 countries.