Management Team

Derrell Hendrix
Derrell is the CEO of Karson Management (Bermuda) Limited and its subsidiaries, which he founded in 2007. Through his work at Karson and at The RISConsulting Group, a company he co-founded with Hannover Re and Rabobank in 1996/97, Derrell has developed a unique profile in the complex financial risk management area, working with major corporations, financial institutions and regulators. Prior to RISConsulting, Derrell spent just under 20 years at Citibank, where he held senior positions in relationship management, fixed income and equity derivatives as well as securities trading and structuring in Canada, Hong Kong and London.  He created Citibank’s European warrants business, its European equity derivatives and insurance derivatives businesses, and concluded the first catastrophe bond transaction for Hannover Re in 1994. Derrell served as a member of the Board of Directors of Converium AG from its launch in 2001 until its acquisition by SCOR in 2007.
Derrell received a B.A. (Magna cum Laude) from Amherst College and an M.A. from the Fletcher School of Law and Diplomacy.

Richard Black
Richard is the Bermuda Director and CFO of Karson Management (Bermuda) Limited and its subsidiaries. Since coming to Bermuda in 1981, Richard has held various senior positions at AIG, Pinnacle Re, Centre Re, Stockton Re and Wind River Re. Richard is also a Director of various other Bermuda companies, including The Shipowners Insurance & Guaranty Company, affiliates of Thomas Miller and affiliates of Macquarie Bank.
Richard is a member of the Institute of Chartered Accountants in England & Wales

Paul Galpin
Paul joined Karson in January 2019 and has over 30 years of experience in structured solutions in the European, US and Bermuda (re-)insurance markets.  A former banker, Paul has extensive experience in structuring and executing financing transactions for insurance companies with a particular focus on cross-border and domestic regulatory requirements, liquidity management, capital planning & optimisation, and enterprise risk management.
Prior to joining Karson, Paul was most recently Head of US Financial Institutions coverage with ABN AMRO in New York, and before that with ING Bank in both New York and London where he was a senior member of the bank’s Sector-based Lending and, most recently, in Structured Solutions and Coverage; while with ING, Paul also conducted a number of advisory and consulting assignments for insurance clients.  In addition to his banking experience, Paul spent six years as a director of Insurance Ratings with Standard & Poor’s based in London, where his experience also included the development of several of the agency’s criteria and methodologies.  He started his career with the London Branch of The Chase Manhattan Bank.
Paul received a BSc (Hons) in Banking and International Finance from City, University of London.

John Lawless
John joined Karson in November 2018 as Managing Director. Prior to joining Karson, John was an Executive Director within the global markets division of National Bank of Abu Dhabi where he was responsible for delivering financing and asset-side solutions for many of the world’s largest Sovereign Wealth Funds, Pension Funds and Private Banks. Previously, John was at Standard Chartered for seven years within the Financial Markets division responsible for Illiquid Credit Structuring & Solutions for EMEA & US focusing on the development of a multi-billion dollar financing and capital markets structured solutions platform for both institutional and global corporate clients. He has also held the position of Treasurer for Morgan Stanley Bank International as well as responsibility for the Treasury Capital Markets EMEA financing effort for the firm’s illiquid asset portfolios. He began his banking career spending five years at Credit Suisse First Boston focusing on regulatory capital and liquidity risk management frameworks.
John holds an Executive MBA from Cass Business School in London. He is a Chartered Alternative Investment Analyst holding the CAIA Charter, a Chartered Management Accountant (CIMA) and an associate member of the Association of Corporate Treasurers (ACT).

Roy Zimmerhansl – Consultant
Roy started consulting for the Karson Group in January 2019.   Roy has held senior positions in the securities finance markets for over 30 years, most recently as global head of securities lending at HSBC.  Roy has had the benefit of participating in securities financing markets for a number of leading firms including agent lenders, running a prime brokerage business, establishing a collateral trading business, creating an electronic trading platform, acting as a product specialist for a Fintech firm and providing consulting services to banks and institutional investors.  Additionally, Roy has been an educator on securities finance markets through his work at FinTuition.
Roy has been a member of key industry groups including stints as vice-chair of the International Securities Lending Association, as a member of the Bank of England Securities Lending and Repo Committee and a board director of the Pan Asia Securities Lending Association.

Jeffrey Tretin
Jeffrey serves as General Counsel for the Karson group of companies. Jeffrey had worked as a tax practitioner at law firms in New York.  He joined The Continental Insurance Company as domestic tax counsel in 1987 and served as a Senior Manager and Director of the Insurance Tax consulting practices at Ernst & Young and PWC from 1994 through 1998.  He joined Converium in 1998 as Senior Vice President/Underwriting in the Risk Strategies Division.
Jeffrey is a graduate of Brandeis University and received his JD from The Columbia University School of Law and his LLM in Taxation from the New York University School of Law.

Andrew Seem (Service Provider)
Andrew joined The RISConsulting Group LLC in 1998 and is a Managing Director.  Since the inception of Karson Management (Bermuda) Limited in 2007, Andrew has been providing a variety of services to the Karson group pursuant to its service agreement with RISConsulting. Andrew has been instrumental in the origination, structuring and distribution of a variety of transactions including life reinsurance securitizations, catastrophe bond transactions, reserve and capital financing transactions.  He has also served as project manager for the launch of specialist structured finance vehicles.
Andrew received an M.B.A. from Boston University and a B.A. from Denison University.

Kerstin Hendrix
Kerstin has been with the group since its inception in 1996 and is responsible for financial, accounting and treasury aspects of group companies. Kerstin began her career at Citicorp in 1987, where she gained experience in securities trading and sales, derivatives marketing and structuring and worked for eight years as an equity research analyst with Enskilda Securities, specializing in Swiss stock research across sectors and macro-economic country analysis for large institutional investors.
Kerstin received a B.A. and M.A. in Finance and Economics from Zurich University and was awarded the CFA charter in 1997.