Risk & Portfolio Management
Mark Dunfoy
Director
Mark graduated from Cambridge in 1987. He qualified as a Chartered Accountant with Price Waterhouse and spent two years in their Corporate Finance department prior to joining us in 1996.
T: +44 20 7336 9943
E: mark.dunfoy@montagu.com

Mark Keough
Director*
Mark joined Montagu in September 2008. He holds a degree in Urban Studies from MIT and an MBA from Harvard Business School. His early career was spent in engineering consulting with Pugh-Roberts Associates in the US before joining McKinsey, where he spent 12 years both in the US and Europe. As Partner, he led Mckinsey’s Strategic Purchasing and Business Dynamics practices world-wide, and focussed on strategy and operational effectiveness projects for a wide range of clients across many sectors. In early 1994, he joined the senior management team in the LBO of Wesco Distribution. Wesco is a leading global electrical distributor which was acquired by Clayton, Dubilier & Rice. Mark held the position of Vice President, Product Management & Supply. Following a highly successful exit for all investors, Mark became founder and CEO of Europa-IT, the vehicle founded by Mark to acquire the European businesses of CHS Electronics Inc. During his seven year period of ownership, Mark successfully re-positioned the group and improved performance, and exited his investment via a series of trade sales. Mark works on both pre deal diligence and post deal work across Montagu’s portfolio, developing and implementing Full Potential Plans with management teams, and taking on board roles.
T: +44 20 7336 9915
E: mark.keough@montagu.com
* Montagu Private Equity Associates LLP
Erem Kassim-Lakha
Investment Director
Erem joined Montagu in 2006 having spent fours years as Strategy Director at the Spirit Group, the UK's largest managed pub business owned by Texas Pacific and Blackstone. She also served as interim MD of the Spirit Food pub business for several months. Prior to Spirit, Erem worked at Bain & Company in Toronto, London and Paris where she managed a wide variety of strategy, due diligence and operational improvement work. Prior to that, Erem completed her MBA at Harvard Business School after a two year stint in M&A at CS First Boston in New York.
T: +44 20 7336 9965
E: erem.kassim-lakha@montagu.com

Dr. Axel Eckhart
Senior Adviser
Axel has been working closely with Montagu since 2007. He holds an MBA from the University of Cologne. The early part of Axel’s career was spent at McKinsey, where he quickly rose to become Partner and Director, and worked with a wide range of clients in both Europe and the US covering all aspects of strategy, operational improvement and organisational development. In 1991 he became co-owner and Board member of Elpro AG, one of the largest industrial groups in East Germany to be privatised by the Treuhandanstalt following German reunification. He held a variety of positions in the business including CFO, CIO and COO of one of the group’s main divisions. In 1996 Axel joined Droege, a leading German consulting firm, as a Senior Partner to work with a number of leading Dax 30 groups focussing on strategy and operational change. In 2002 Axel was recruited by KKR to establish Capstone Europe, the in-house operational arm of KKR. He was responsible for building a team across Europe to support KKR’s activities, and worked on a wide range of value-creation projects across KKR’s European portfolio. Axel works with Montagu on a wide range of pre-deal diligence assignments and post-deal work, including the preparation and implementation of Full Potential Plans with management teams across Montagu’s portfolio. He also holds board positions in Montagu portfolio companies.
T: +44 20 7336 9975
E: axel.eckhardt@montagu.com
James Codling
Investment Director
James joined Montagu in 2006 having spent 6 years working for J.P. Morgan's leveraged finance team in London and Hong Kong. James holds a degree in Electronic and Electrical Engineering from the University of Birmingham.
T: +44 20 7336 9938
E: james.codling@montagu.com
Ellie Williams
Portfolio Manager
Ellie joined Montagu in February 2004 having graduated from the University of Newcastle upon Tyne with a first in Economics. She supports Mark Dunfoy and James Codling with all aspects of portfolio management.
T: +44 20 7336 9936
E: ellie.williams@montagu.com
Holly Boyd
Executive Assistant
Holly joined us in February 2005 from Catherine Walker where she spent four years as Office Manager and PA to the Directors. She holds an honours degree from Heriot-Watt University.
T: +44 20 7336 9912
E: holly.boyd@montagu.com
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