CIFC Asset Management, an alternative credit specialist with approximately $40 billion in assets under management, promoted Asha Richards, who has served as CIFC’s deputy general counsel and in other legal related capacities since 2015, to general counsel and hired Lily Wicker, former chief compliance officer and associate general counsel at Sound Point Capital Management, as managing director, chief compliance officer and associate general counsel.
In connection with Wicker’s hiring and as CIFC continues to expand its asset base and product offerings globally, the firm has bifurcated the roles of general counsel and chief compliance officer. As chief compliance officer and associate general counsel, Wicker will report to Richards.
“We are thrilled to extend this well-deserved promotion to Asha and welcome Lily to CIFC as we continue to grow and navigate an ever-evolving regulatory landscape,” Steve Vaccaro, CEO and chief investment officer of CIFC Asset Management, said. “Throughout her tenure at CIFC, Asha has proven herself a skilled legal practitioner and leader given her deep knowledge of private fund operations and spearheading of our DE&I and ESG initiatives, respectively. Moreover, Lily has extensive relevant experience at numerous well-established alternative credit and financial services firms and an approach that perfectly aligns with CIFC’s culture of compliance. We look forward to their collective contributions and guidance.”
“It has been extremely rewarding to play a part in CIFC’s significant growth over the past seven years and I am delighted by the opportunity to further bolster our legal function while continuing to service our investors,” Richards said. “Throughout my time at the firm, I have watched the credit markets and systems that govern them mature, and I am excited to work alongside Lily to ensure CIFC continues to meet best-in-class legal and compliance standards.”
“CIFC has sustained a reputation as a leader in alternative credit globally with robust infrastructure and operations supporting its talented investment professionals,” Wicker said. “I am pleased to add my skills to Asha’s and those of the entire team to further enhance CIFC’s existing compliance programs and build upon the firm’s strong foundation.”
