London / Paris, 14/02/2025
H2O AM is pleased to announce the appointment of Karina Perwald-Leroy as Sales Director for German and Austrian markets. In this role, Karina will be responsible for the sale and distribution of funds across the region and provide day-to-day client services, ensuring that German and Austrian clients have a dedicated point of contact for their needs.
Karina joins H2O AM’s Investor Relations Team with an extensive legal and financial background. After starting her career at Freshfields Bruckhaus Deringer in 2003, she held significant roles in establishing and leading legal departments within reputable financial institutions such as State Street and Groupe La Française. In 2021, Karina joined H2O AM as Senior Legal Advisor. Her academic credentials include a doctorate in International Economic Law and the Certificat d’aptitude à la profession d’avocat (CAPA).
With dual French and Austrian citizenship and fluency in French, German, and English, Karina’s linguistic proficiency and cultural insight will be instrumental in fostering robust relationships with investors and allowing for a deeper understanding of the unique needs within the German and Austrian markets.
Babak Abrar, Chief of Sales & Marketing Officer: “We are confident that Karina’s contributions will be instrumental in facilitating dialogue with investors, and ensuring more efficient client servicing in day-to-day operations, all of which are essential for cultivating lasting partnerships. Karina’s onboarding aligns with our broader strategy to amplify distribution channels globally, capitalising on the increasing interest in alternative strategies.”
Karina Perwald-Leroy: “It is with great enthusiasm that I take on the role of Sales Director for Germany and Austria at H2O AM. These markets, where we are privileged to cater for highly valued clients with a deep understanding of our strategies, are integral to our firm. I look forward to applying my expertise to deliver on our commitments to the German and Austrian markets.”

Karina Perwald-Leroy, Sales Director
Karina Perwald-Leroy holds a CAPA and a doctorate in international economic law. She practised with the law firm Freshfields Bruckhaus Deringer from 2003 to 2005 and worked as a manager at Atos consulting before joining State Street to set up the legal department in Paris (State Street Bank and State Street Global Advisors). She then joined the La Française Group in 2011 to manage the Corporate Legal Department. She was then appointed General Counsel and Chief Compliance Officer at a subsidiary of the La Française Group (Acofi Gestion).
In 2017 she joined Oney Bank to head its Legal Department and that of its subsidiaries based in 11 countries. She joined H2O AM Europe in June 2021. In her various roles as Head of Legal in the financial industry, she has played an active part in the commercial development of activities in support of the sales teams. A French and Austrian citizen, Karina is fluent in French, German and English.
About H2O AM
Founded in 2010 and with offices in Paris, Monaco, London, Geneva and Singapore, H2O AM is an independent asset management company, mainly specialising in Global Macro strategies.
Based on an investment process developed over more than thirty years and employing proprietary quantitative engineering, the team implements a discretionary investment process based on a Top-Down and Value approach.
Through relative value strategies in bonds, currencies and equities, H2O AM offers its clients the benefits of diversified alpha with assumed and controlled risk over a defined time horizon.
Press contacts
Mélodie Blondel – H2O AM
Mail: melodie.blondel@h2o-am.com | Tel: +33 6 78 63 98 30
Kristell Le Nadan – Citigate Dewe Rogerson
Mail: kristell.lenadan@citigatedewerogerson.com | Tel: +33 6 98 49 22 27
Gaspard Gantzer – Gantzer Agency
Mail: gantzergaspard@gmail.com | Tel: +33 6 60 58 45 90
Disclaimer
This document is distributed for information purposes only and does not constitute advice, an offer or an invitation by or on behalf of H2O AM to buy or sell securities, related financial instruments or other products, or to engage in any trading strategy in any jurisdiction. This document is intended for professional clients within the meaning of the MiFID Directive. It may not be used for any purpose other than that for which it is intended and may not be reproduced, disseminated or communicated to third parties in whole or in part without the prior written consent of H2O Asset Management.
The legal and regulatory documentation of the funds managed by H2O AM is available free of charge on the website h2o-am.com. The H2O Asset Management Group comprises the following entities:
H2O Asset Management L.L.P. which is an investment management company authorised and regulated by the Financial Conduct Authority (“FCA”) and registered with the registration number 529105. H2O Asset Management L.L.P. is registered with the English Companies Registry under number OC356207. The FCA register can be found at http://www.fca.org.uk/. Company name and registered office: H2O Asset Management L.L.P. 33 Cavendish Square, 6th Floor, London W1G 0PW, United Kingdom. Company Number: OC356207.
H2O Asset Management Europe is an asset management company authorised and regulated by the Autorité des Marchés Financiers under the n° GP-19000011. The AMF register can be consulted at https://www.amf-france.org. Company name and registered office: H2O AM Europe, 39 avenue Pierre 1er de Serbie, 75008 Paris, France. Company Number: RCS Paris n° 843 082 538.
H2O Monaco SAM which is authorised and regulated by the Commission de Contrôle des Activités Financières (CCAF SAF 2017-04). Company name and registered office: H2O Monaco SAM, 24 bd Princesse Charlotte 98000 Monaco. Company Number: (RCI) 17S07498.