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Macquarie Group Expands Credit Sales and Trading Team

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By Business Wirevia The Motley Fool

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Macquarie Group Expands Credit Sales and Trading Team

  • New hires complement current credit sales and trading efforts
  • Will expand upon the products and services currently offered to clients

NEW YORK–(BUSINESS WIRE)– Macquarie Group (“Macquarie”) (ASX: MQG; ADR: MQBKY) today announced the further expansion of its Credit Sales and Trading Division with the addition of seven new professionals. The New York-based appointments continue the growth of the firm’s credit trading business, which was established in 2008. The hires will support a range of activities including par and distressed loan and bond trading and portfolio financing solutions.

The new hires include:

  • Brian Foley who joins as a Managing Director responsible for a team that structures and trades funding for portfolios of financial assets. He was previously with Bank of America Merrill Lynch where he was a Director in their Strategic Funding Trading business, focusing on long-term structured products funding, utilizing total return swaps and repo. Mr. Foley will be supported by Ramya Gopalakrishnan who joins as a Vice President from Bank of America Merrill Lynch and Raymond Hugel who joins as an analyst.
  • Michael Miller joins as a Managing Director focused on Distressed Bond and Loan Trading. He was previously at Nomura Securities where he was a Managing Director responsible for trading Senior High Yield/Distressed Debt. Prior to that, he was head of High Yield Trading at Oppenheimer & Co., a portfolio manager and trader in the Global Credit Strategies team at UBS, and a President of Morgan Stanley’s Special Situations Group and Co-Head U.S. High Yield / Distressed Corporate Risk Management and Trading.
  • Alan Chao joins as a Associate Director focused on Par Loan Trading Analytics. He comes from Kamsky Associates where he oversaw the development of a potential China-related private equity arm for the firm. Prior to that he spent five years as a Portfolio Manager at Canaras Capital Management where he helped create an alternative investment manager focused on leveraged finance and structured products. He will work closely with Nick Gustafson who joins as a Par Loan Trader. Mr. Gustafson previously served as a leveraged loan trader at J.P. Morgan Securities where he was a market maker of high yield, distressed and institutional corporate loans for as many …read more
    Source: FULL ARTICLE at DailyFinance