IOMA Group, an Isle of Man-based wealth management firm, has strengthened its business development team with two new appointments.

Karen Barretto has been appointed as the firm’s new head of technical services with responsibility of enhancing the existing suite of structures by developing new products, according to Isleofman.com.

Barretto has joined IOMA from Barclays Private Wealth where she served as head of UK trust sales. Previously she spent five years with Canada Life as head of the trust and estate planning team and two years as a trust and tax manager with MetLife.

IOMA has appointed Debbie Mahanta to its business development team with responsibility of developing its private client network and portfolio of corporate partnerships.

Mahanta will also be responsible for enhancing the firm’s product proposition with the potential to increase its range in correspondence with market demand.

Mahanta has served in various roles for business development, wealth planning and sales management sectors at UBS Zurich, Goldman Sachs Zurich, Ardel Holdings and St James’s Place.