People Moves

Fortelus hires Lloyds, JPM veteran as CFO


Fortelus, the European distressed operation led by Tim Babich, has made a significant addition with the recruitment of Gareth Stephens as its CFO/COO.

Stephens has over 30 years experience in finance and operations and most recently served as CFO/COO of real estate firm Moor Capital Partners. Before that he was the finance director of Lloyds TSB's structured finance business, having earlier spent 17 years in senior roles at JP Morgan.

He joins Fortelus at a time of high opportunity, with the firm's $550 million Fortelus Special Situations Master Fund up by more than 37% this year.