L1 Group Appoints Four Senior Execs to Drive Growth in North America and EMEA

L1 Group has appointed four senior executives to drive international growth across capital formation, partnerships, and corporate finance. The appointments span North America and the Europe, Middle East and Africa (EMEA) region, with the new hires bringing experience from Starwood Capital’s family office, Brevan Howard, Goldman Sachs, and UBS.

For L1 Group shareholders, the coordinated build-out of senior talent across multiple functions and geographies signals management is positioning for a step-change in scale rather than incremental growth. Expanded distribution teams in New York and London suggest the company is preparing to materially grow funds under management (FUM) and recurring management fees.

North American leadership takes shape

Chris Ashman to lead partnerships from New York

Chris Ashman has been appointed Head of Partnerships for North America, commencing in early August 2026. He will be responsible for identifying, sourcing, and developing strategic joint venture opportunities across the region.

Ashman joins from Jaws Estates Capital, where he served as head of fund investments. Jaws Estates Capital is the family office of Barry Sternlicht, Co-founder of Starwood Capital. He will be based in New York.

Jay Sullivan to drive North American capital flows

Jay Sullivan has been appointed Director, Capital Formation for North America. He will lead distribution efforts across the region, building strategic relationships with investors and partners to drive capital flows.

Sullivan brings experience from previous roles at Dwight Securities Management and Shannon River Capital Management. Most recently, he founded East Island Partners. He will be based in New York.

North American appointments:

1. Chris Ashman: Head of Partnerships for North America | Former head of fund investments at Jaws Estates Capital (Barry Sternlicht’s family office, linked to Starwood Capital)
2. Jay Sullivan: Director, Capital Formation for North America | Founder of East Island Partners, previous roles at Shannon River and Dwight Securities

What does capital formation mean for asset managers?

Capital formation in the funds management context refers to the process of raising investment capital from institutional and wholesale investors. For asset managers like L1 Group, this involves building relationships with pension funds, family offices, endowments, and other large capital allocators.

When a company appoints dedicated regional heads of capital formation, it signals a deliberate strategy to scale investor outreach beyond home markets. This matters because stronger capital formation capability supports growth in FUM, which directly drives fee revenue.

For L1 Group shareholders, expanded distribution teams in key financial centres such as New York and London indicate management is positioning for material growth in FUM and recurring management fees.

Dan Riggs to expand EMEA investor relationships from London

Dan Riggs has been appointed Head of Capital Formation Europe, Middle East and Africa (EMEA). He will lead the company’s distribution activities across the Europe, Middle East and Africa region, focussed on developing and strengthening relationships throughout these markets.

Riggs joins from Brevan Howard, where he spent more than 15 years in capital raising and client coverage roles. Prior to that, he worked in Third Party Sales at Goldman Sachs Asset Management. His experience spans a broad range of investment strategies and client types. He will be based in London.

Brevan Howard is one of Europe’s largest hedge fund managers. This hiring pedigree suggests L1 Group is targeting sophisticated institutional capital in EMEA.

James Allaway confirmed as CFO

L1 Group confirmed that James Allaway will commence as Chief Financial Officer on 18 September 2026, following the initial announcement on 9 June 2026.

The initial CFO announcement in June 2026 also noted that outgoing CFO Andrew Stannard, who had served since 2015, would transition to an advisory role before departing in early 2027 to ensure a structured handover.

Allaway joins from ASX-listed FleetPartners, where he served as Chief Strategy Officer. He was previously a senior investment banker at UBS. L1 Group noted he brings strong financial, strategic and operational expertise, along with a demonstrated track record across mergers and acquisitions (M&A), capital markets and corporate strategy.

Board Authorisation

This announcement was authorised for release by the Board of L1 Group Limited.

Summary of new appointments

What this means for L1 Group’s growth trajectory

L1 Group is building out regional leadership in the two largest pools of institutional capital outside Australia. The combination of partnership origination through Ashman and capital raising through Sullivan and Riggs creates a dual-track growth engine.

Allaway’s appointment provides corporate finance capability to support M&A and capital markets activity. The coordinated build-out of senior talent across multiple functions and geographies suggests L1 Group is preparing for a step-change in scale rather than incremental growth.

The calibre of prior employers across these appointments indicates management is targeting sophisticated institutional capital and strategic partnerships in North America and EMEA. This positions L1 Group to expand its global investor base and partnership pipeline beyond Australian operations.

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