The investment adviser to Hipgnosis Songs Fund (SONG ) has replaced its outgoing chief financial officer and filled a newly created general counsel position with chief operating officer Ben Katovsky’s former colleagues at music rights company BMG.

Dan Pounder has been appointed CFO and will oversee the finance and investments for Hipgnosis Song Management, managing the teams that deliver these services to SONG and Hipgnosis Songs Capital.

He has over 20 years’ experience in accountancy and music finance, including senior roles at BMG, Viacom, Famous Music and Sony Music Publishing.

Pounder replaced Chris Helm, the CFO since the trust’s launch in 2018, who intends to launch a new business early next year, according to a press release.

Jon Baker, also from BMG, has been appointed as general counsel and will be responsible for overseeing the legal aspects of the catalogue acquisitions and day-to-day music legal and business affairs carried out on behalf of SONG and Hipgnosis Songs Capital.

Baker will also be responsible for governance and compliance matters for Hipgnosis and supporting HSM’s fund clients, working closely with Hipgnosis’ outside counsel including Bill Leibowitz.

Baker had been general counsel at BMG, where he had worked since 2012. Prior to this he was at media and entertainment law firm Simkins.

Incumbent president and chief operations officer Ben Katovsky also joined a year ago from BMG, where he worked alongside both Pounder and Baker, according to the release.

‘It is always a priority for me to continually strengthen our executive leadership team to ensure we have the best institutional investment, finance and music capabilities and experience to deliver the next stage of development for Hipgnosis and our funds,’ said chief executive and founder Merck Mercuriadis.

The pair join at a tricky time for Hipgnosis, after shareholders in its £860m song royalty fund voted against continuation at the annual general meeting last month. The newly constructed board, including new chair Robert Naylor, has six months to serve notice to the investment manager.