Exclusive-Sona poised to hire Cheyne's Hill as CFO for $13.6 billion manager, source says

By Nell Mackenzie

LONDON (Reuters) -Sona Asset Management is set to hire David Hill as its new chief financial officer, a source close to the matter told Reuters on Friday. 

Hill will likely join the investment firm from his CFO role at the $13.5 hedge fund Cheyne Capital, the person said. He brings over 20 years of experience, including 12 years in CFO roles, said the source.     

Sona Asset Management's chief financial officer Iain Colquhoun has left the firm, according to an email seen by Reuters on Friday. 

An email to Colquhoun's work address bounced back saying he no longer works for the firm and Reuters did not immediately respond to LinkedIn request. 

Hill will start his role at Sona Asset Management in October, the source said. He did not immediately respond to a request for comment on LinkedIn. A representative for Cheyne Capital did not immediately respond to a request for comment. 

Sona Asset Management, which oversees $13.6 billion, invests in bonds, as well as private credit and collateralised loan obligations, taking both long and short positions. A short trade is a bet that an asset will lose value.  

At Cheyne Capital, Hill was responsible for management accounting, budgeting, and financial reporting. He also served on the executive committee, overseeing strategy and planning, the source said. 

Before his job at Cheyne, he held roles as head of finance and later CFO at Finisterre Capital. 

Sona's departing CFO, Colquhoun, joined the hedge fund manager in June 2018, bringing with him 21 years of experience in fund operations, finance, and infrastructure, according to the firm's website. 

Last year, Sona Asset Management's Credit Master Fund returned 18.8%, benefiting from a surge in European companies needing to refinance their debt, Reuters previously reported. 

The firm's collateralized loan obligations (CLOs) platform made the top quartile of CLOs ranked by Deutsche Bank in 2024. These did not have specific annual percentage returns mentioned in the letter.

During 2025, Sona Asset Management's assets under management have grown over $3 billion. 

(Reporting by Nell Mackenzie. Editing by Elisa Martinuzzi and Anna Driver)