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


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 (RISConsulting)
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.
Thomas Huertas
Thomas joined Karson as Executive Vice President in 2022. He has extensive experience in financial services as a banker, regulator, supervisor and consultant. He held a number of senior positions at Citigroup including Chairman and Chief Executive of Citibank AG (Germany). He also acted as Chairman and Chief Executive of Orbian plc, launching this supply-chain financing company into the market and then selling it to a private investor. In 2004 Tom joined the UK Financial Services Authority as Executive Director. During his seven years at the FSA, he played a leading role in the supervision of troubled banks and in the reform of regulation concerning capital, liquidity, resolution and remuneration. Concurrent with his duties at the FSA, Tom served as a member of the Basel Committee on Banking Supervision and as Alternate Chair of the European Banking Authority. In 2012 Tom joined EY as a partner in its Financial Services Risk Practice, where he chaired the firm’s Global Regulatory Network and advised major financial institutions.  Currently Tom is Senior Fellow at the Center for Financial Studies at the Goethe University in Frankfurt and a non-executive director at Barclays Bank Europe.
Thomas holds a Ph.D. In Economics from the University of Chicago and has published extensively on financial services.
John I. Williams, Jr.
John is Director and Vice President of Karson Management (Bermuda) Limited.  He has extensive experience in service delivery as a banker, senior financial services executive and consultant.  He was a VP/Group Head at Chemical Bank’s Operations Division.  He went on to hold several senior positions at American Express, including SVP of Strategic Planning, VP of Platinum Card (US), SVP of Marketing Information Services, and SVP/GM of the Consumer Travel Network.  He led a re-positioning of the Platinum Card, where he created a number of new, innovative service features that led to accelerated growth for the product.  He restructured the Consumer Travel Network, leading to a quintupling in operating income over three years.  He has served as CEO of three startup ventures, as a partner in the Bridgespan Group, a strategy consulting firm, and as president of Muhlenberg College (PA).  John is a director of Karson (Bermuda) and Linear Air, Inc.  In addition, John is a Life Trustee of Amherst College and serves as a trustee of Kent School (Kent, CT) and Walnut Hill School for the Arts (Natick, MA).
John earned a BA, magna cum laude, in Economics from Amherst College.  He holds an MBA from Harvard Business School and a JD from Harvard Law School.


Christopher Yoshida
Christopher is a Director and Executive Vice President of Karson Management (Bermuda) Limited and has more than 2 decades of global market, asset management and entrepreneurial experience. He is the President and CFO of Northern Data, Europe’s Leading HPC Infrastructure provider. Before joining Northern Data, Mr. Yoshida was a Senior Advisor to Global Credit and the Head of Carlyle Capital Solutions Europe (CCS), at the Carlyle Group based out of London. Mr. Yoshida has spent over 16 years before this in leadership and management positions at Deutsche Bank, Morgan Stanley and Goldman Sachs.

In addition, we employ the services of expert consulting firms:
Kauer Management LLC – Martin Kauer
Martin is an Executive Partner of Karson Management (Bermuda) Limited and its subsidiaries. Martin is a senior executive reinsurance/finance/corporate finance professional with more than 30 years of experience as Corporate Financier, Chief Executive Officer, Chief Financial Officer and Chief Operating Officer in the insurance industry and in investment banking. Prior to Karson, Martin successfully managed Asia Capital Re and Glacier Re, after the two entities were acquired by the Catalina Group. Before that, he was the CFO of Zurich Re that in 2001 was spun off as Converium and listed at the SIX Swiss Exchange and at the NYSE, a project he led. As investment banker he worked for Bank Vontobel and UBS and he managed the demutualisation of Swiss Life that took place in 1997.
Martin received an M.B.A . (magna cum laude) from the University of Zurich.

DSFR – Harry Scheule 
Harry has extensive expertise in the area of banking, credit and liquidity risk, data analytics, housing finance, insurance, portfolio construction, prudential regulation and securities valuation. Harry is a strategic partner for financial institutions and fund managers, who have applied his economic and regulatory frameworks globally to improve their risk management practices or manage and transfer financial risks.
Harry’s award-winning research has been widely cited and published in leading journals. His textbooks on credit risk analytics are used around the world in data analytics courses. He currently serves on the editorial board of the Journal of Risk Model Validation.


PN Galpin Financial Analytics Limited – Paul Galpin
Paul has worked with Karson and RFPS for a number of years and has over 35 years’ experience of the global insurance and reinsurance markets.  A former banker, Paul has worked extensively with insurance clients worldwide to meet their regulatory, liquidity and capital financing objectives.  As an independent consultant, Paul specialises in insurance solutions and capital structuring for both life and non-life insurers, insurance and credit risk management and ratings advisory.
Prior to moving into consulting, Paul was most recently Head of US Financial Institutions coverage with ABN AMRO in New York, and before that with ING Bank both in New York and London, where he was a senior member of the bank’s insurance solutions practice.  In the 1990s, Paul spent six years as a director of Standard & Poor’s Insurance Ratings team in London, where he also worked on the development of the agency’s criteria and methodologies.
Paul received a BSc (Hons) in Banking and International Finance from City, University of London.