Designated Persons & Conducting Officers

Apart from independent fund directors, Carne also provides Conducting Officers for Luxembourg funds, and Designated Persons for Irish funds.

Both functions provide additional support for funds boards from experienced and fully qualified personnel. Carne’s Designated Persons and Conducting Officers have considerable industry experience and strong familiarity with local and pan-European regulations and reporting requirements.

By making use of the additional support of Conducting Officers / Designated Persons, our clients can tap into Carne’s deep well of knowledge of the global funds industry, including best practices for governance and risk management, reporting and cross-border distribution.

Why Use Carne’s Designated Persons & Conducting Officers program?

  • Enhanced local substance in Ireland / Luxembourg
  • An additional level of support and oversight for fund boards
  • Further layer of governance assurance for investors / allocators
  • Familiarity with local regulatory requirements and expected governance levels

Contact Us

For further information on our Conducting Officers and Designated Persons program, please contact:

Ireland: Des Fullam

Des Fullam

Phone: +353 1 489 6805
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Luxembourg: Steve Bernat

Steve Bernat

Des Fullam

Based in Ireland, Des is an experienced and highly knowledgeable fund director with over 15 years of experience in senior roles in the sector He has worked closely with fund clients and regulators on regulatory and listing procedures and has in-depth expertise of day to day fund operations and Irish and EU fund regulations. His experience extends to working with all types of UCITS and AIFs including hedge, private equity, ETF and ERISA funds.

Des joined Carne from J.P. Morgan Bank (Ireland) plc, where he was a Vice President in the Bank’s Trust & Fiduciary services division in Dublin, managing a large portfolio of trustee clients, including UCITS and hedge funds managed by both large institutional and boutique managers. Prior to that Des held senior roles in the Irish Stock Exchange including as Listing Manager in the Funds Department, overseeing listing and compliance functions for funds and as an Executive in the corporate finance department. He sat on the Exchange’s policy committee, the Company Law Review Group and worked closely with the Irish Central Bank and EU bodies to adopt new regulations in the funds and securities area. Des was centrally involved in the launch of a number of new markets while at the Exchange. Des began his financial services career with the Trustee Department at Deutsche International in Dublin.

Des qualified as a barrister at the Kings Inns in Dublin and also has an MBA in Financial Services from the UCD Smurfit Business School. He has a B.A. from University College Dublin and a M.Litt. in modern American history from the University of St Andrews. He is a Member of the Chartered Institute for Securities and Investment and the Institute of Banking.


Steve Bernat

Steve Bernat is the CEO of Carne’s Luxembourg business and a highly experienced investment fund expert with strong background in funds distribution and operations. He is responsible for managing the day to day business of Carne’s Luxembourg office and its management company.

Steve has almost two decades of experience in theinternational funds industry, working to facilitate the requirements of fund management clients from across the globe. He has a background in fund services, and was most recently a member of the Executive Committee at Lemanik Asset Management, where he was also acting as General Manager of Lemanik’s Dublin branch. He worked for seven years at Citi with its European Fund Services and Securities division, and prior to this was employed by State Street/International Financial Data Services (IFDS), where he managed the client relations team. Steve has also worked with Pioneer Investments.

Steve speaks English, German, French and Luxembourgish. He is an active member of fund industry committees and working groups and a regular speaker at conferences around the globe.