Hamilton Lane, a US-based alternative investment manager, has appointed Atul Varma as its new CFO and treasurer, replacing Randy Stilman who has held the position for 22 years.

Varma joins from BNY Mellon immediately.

At BNY Mellon, he latterly served as the head of business strategy and CFO of Wealth Management.

Besides, he held the role of CFO of different units of Bank of America Global Wealth and Investment Management group. His 20-year financial career also includes a stint at Citigroup.

At the same time, he sits on the board of nonprofit The Partnership as well as the Leadership Board of the Beth Israel Lahey Health, a Harvard Medical School- affiliated teaching hospital.

Hamilton Lane CEO Mario Giannini said: “Atul is an experienced senior financial officer whose expertise in finance, accounting and business strategy we think will benefit us greatly as our business continues to grow and evolve.”

Meanwhile, Stilman will retire from the role after supporting the transition process.

Developments at Hamilton Lane

In June 2017, Hamilton Lane announced the acquisition of Real Asset Portfolio Management, a US-based investment manager specialising in real assets.

A month later, Hamilton Lane expanded into Australia by launching a new office in Sydney and named James Martin as the office head.