Job Swaps

Job swaps round-up - 19 May




CDO manager transfers

Dock Street Capital Management has replaced Vertical Capital as portfolio advisor to Summer Street 2005-HG1 and Vertical CDO 2003-1. Moody's confirms that the move will not impact the ratings on the ABS CDOs.

EMEA

BlueMountain Capital Management has named Louisa Church ceo for Europe. She will also continue in her role as head of client advisory - Europe, Middle East and Australia, and as a member of the firm's management committee. Church had shared the role of co-ceo of Europe with Nicholas Pappas, who recently resigned from the firm.

Cairn Capital has appointed Brandon Kufrin as a co-portfolio manager for the Cairn Special Opportunities Credit Fund and for special opportunities within its multi-asset credit funds. He will work alongside Maria Rassam, focusing on CLOs, securitisation warehouses and bridges, corporate structured credit, specialty finance, asset-based private credit and risk transfer transactions with financial institutions. Kufrin was previously a senior investment analyst at Magnetar Capital in London, where he had co-risk management responsibilities for its US$1.2bn European credit portfolio.

Name change

The Arrowpoint CLO 2013-1, 2014-2, 2014-3, 2015-4 and 2016-5 transactions have respectively been rebranded Elevation CLO 2013-1, 2014-2, 2014-3, 2015-4 and 2016-5. The move follows the rebranding of the manager Arrowpoint Partners to ArrowMark Partners in March.

North America

BlueMountain Capital Management partner and portfolio manager Marina Lutova Meyers has been given expanded responsibilities for overseeing performing credit globally, while continuing to lead the firm's long/short credit portfolio in North America and its index arbitrage strategies. Additionally, fellow partner and portfolio manager Omar Vaishnavi has been made responsible for overseeing BlueMountain's distressed strategy globally, having previously been responsible for the distressed portfolio in North America. The pair are members of the firm's management committee, while Meyers is also a member of its investment committee.

Hercules Capital is expanding its ongoing review designed to determine the most appropriate investment advisory structure to enhance shareholder value (SCI 12 May). Accordingly, the special meeting of stockholders previously scheduled for 29 June has been postponed indefinitely and the proposal to seek stockholder approval to adopt an external investment management structure has been withdrawn. The independent directors intend to engage an independent financial adviser to consider all available options with regard to the company's investment management structure.

Redpoint Capital Group has hired Alex Dunev as a managing partner, responsible for driving the firm's strategic priorities, including sourcing new investment opportunities and raising capital to deploy into its investment strategies. He will also manage Redpoint's office in Westport, Connecticut. Dunev was previously an md in the investment banking division at UBS, leading the bank's specialty finance efforts in the Americas.

The US SEC has charged a pair of former head traders who ran Nomura's CMBS desk with deliberately lying to customers in order to inflate the profits of the CMBS desk and line their own pockets as a result. James Im and Kee Chan are alleged to have each misrepresented price information while acting as intermediaries on trades with Nomura's CMBS secondary market customers. Chan has agreed to settle the charges by paying US$51,965 in disgorgement, plus US$11,758 in interest and a US$150,000 penalty, and will be barred from the securities industry with the right to reapply after three years. The case continues against Im.

19/05/2017 14:38:53



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