Donn Cox
bfinance, the independent investment consultancy, today announces the appointment of Donn Cox as its first Head of North America. Cox—an industry veteran best known for founding LP Capital Advisors and his subsequent leadership positions within Pavilion Alternatives Group and Mercer—will head up a growing team of consultants in the U.S. and Canada across offices in Chicago, Toronto and Montreal.
Cox’s appointment in this newly created role expands the firm’s senior leadership team and strengthens its growing footprint across North America. His arrival closely follows another senior appointment in the region, with Tomas Bylaitis joining the U.S. team in August 2025 as Senior Director Client Consulting. Les Marton (Managing Director, Canada) and David Ness (Senior Director, U.S.) will report directly into the new position.
Strategic expansion across geographies, channels
Established in 1999, bfinance has served institutional investors in 47 countries representing over USD 8 trillion in assets including pension funds, insurers, endowments, foundations, family offices, and wealth managers. The firm has been active in Canada since 2006, with a long-standing client base of more than fifty institutions in the country and opened its first U.S. office in 2017.
Over the past two years, the firm has seen particularly strong growth in the US RIA and Wealth Management channels. Independent wealth platforms, multi-family offices and RIAs are seeking independent, institutional-quality, data-driven investment advisory and manager research services, often in the form of strategic partnerships that can be integrated with their specific service models and business requirements. At the same time, the needs of the firm’s traditional institutional client channels in both Canada and the U.S. continue to evolve, influenced in part by the perceived erosion of independent advisory services across the consulting industry amid a trend toward asset management product provision. Investors’ changing needs are also driving innovation in key services such as Private Markets, Fee Review, and Data & Digital Solutions.
North America leadership
Cox, who will be based in the firm’s Chicago office, will have a broad leadership mandate that includes building and managing the North American team, overseeing client relationships and project delivery, accelerating growth across all channels (institutional, wealth, RIA), expanding access to the firm’s newer service offerings, and strengthening collaboration across global research teams.
He brings more than twenty-five years of experience in investment consulting, alternative investment, and program management. Cox founded LP Capital Advisors in 2004, where he was President and Managing Director for more than ten years until Pavilion Financial Corporation acquired the business in 2014 He then became President and Managing Director of Pavilion Alternatives Group and, subsequently, Global Leader at Mercer’s Alternatives group after Mercer acquired Pavilion in 2018. As such, he has been at the forefront not only of key shifts in the institutional investment management industry but of competitive dynamics in the investment consulting sector as firms respond to a shifting investor ecosystem and technological change. Cox brings not only senior leadership experience but also a long-held commitment to independent advisory models.
Donn Cox, Head of North America at bfinance, said: “For more than 25 years, bfinance has stood out for its commitment to rigorous global research, independent advice, and alignment with the specific objectives of each client. Those qualities are increasingly rare in a market where many advisors have shifted into product manufacturing. There is a real need in North America—especially in the U.S.—for an advisory partner whose sole focus is helping investors make better decisions. I’m looking forward to building on this foundation and expanding our ability to serve institutions, family offices, and RIAs across the region.”
David Vafai, Chief Executive Officer at bfinance, said: “The US and Canada represent one of the most important growth frontiers for bfinance. Since 1999, we’ve worked with institutions in nearly 50 countries as an extension of their investment teams, and our North American client base has become increasingly strategic. Donn’s appointment brings the senior leadership, credibility, and connectivity we need to deepen our partnerships across the region and continue delivering world-class, independent investment advice.”