In his new role Mr Cirenza will be responsible for building the group’s US-based business. Prior to joining Olivetree he was global head of securities (equity and fixed income) at Carnegie Investment Bank, where he also headed the New York office for five years, the firm said in a statement.

Before joining Carnegie Mr Cirenza was head of European sales trading in the US at JP Morgan. His prior roles also include those of head of international sales trading in the US at Barclays Bank BZW and head of international equities in the US at NatWest Markets.

“Jim will play a crucial role in expanding our reach to the US, a region we believe is essential for our long-term success. Jim brings a proven track record of building new businesses, developing talented teams of professionals and delivering positive revenue growth,” said Daryn Kutner, Olivetree’s chief executive and founder.