BNP Paribas Expands European Leveraged Credit secondary capabilities and bolsters US High Yield platform
BNP Paribas Corporate & Investment Banking (CIB) has recently added to its secondary Loan and High Yield capabilities with hires in Europe and the United States.
In Europe, Thomas Deininger, Laetitia du Bocage, Paul Mehta and Jonathan Oakley join the Leveraged Credit Sales & Trading desk as part of plans to offer clients access to Loan Trading services alongside existing fixed income products. The Leveraged Credit Sales & Trading desk is a primary and secondary institutional sales, trading and analysis business. In addition, Julien Raffelsbauer joins the High Yield Analysis team as a Senior High Yield Sector Specialist covering Transportation, Shipping, Travel & Leisure and Business Services.
Thomas Deininger and Laetitia du Bocage join from Morgan Stanley and Paul Mehta from Bank of America Merrill Lynch; all three will report to Robb McGregor, Head of Leveraged Credit Sales, based in London. Jonathan Oakley joins as a loan analyst from E. Öhman, the Scandinavian high yield fund manager and reports to Robert Lepone, Head of Leveraged Credit Trading, also based in London. Julien Raffelsbauer joins from Observatory Capital Management, reporting to Jean-Yves Guibert, Head of European High Yield Sector Specialists.
In the United States, Jack Gill and Chris Savinelli, previously at Citadel Securities, join as Managing Director and Director, respectively, on the High Yield Sales desk, reporting to Kevin Cook, Head of High Yield Credit Sales; Kurt Krestinski joins the High Yield Trading desk from Nomura as a Managing Director, reporting to Mike Dowdell, Head of High Yield Trading. These new hires follow the enhancement of BNP Paribas’ analytical capabilities with the addition earlier in the year of three High Yield credit sector specialists: Lori Pomerantz, Murali Ganti and Shachar Minkove. Lori joins from Macquarie and covers Paper and Packaging; Murali joins from Nomura and covers Healthcare; Shachar joins from JP Morgan and covers TMT.
Commenting on the appointments, Benjamin Jacquard, Global Head of Credit Trading said “These appointments in our Leveraged Credit secondary platform at BNP Paribas are key additions to our existing capabilities, enabling us to provide trade ideas and risk management for clients across the capital structure, within and between sectors and in
public and private companies.”
Al Sinsheimer, Head of the Institutional Client Group, EMEA said “Originating High Yield and loan assets has been part of our overall origination platform for some time but, as a result of these hires, we are now stronger in the distribution and secondary trading of those assets which will support more cross-regional flow for our clients.”
In the United States, Kip Testwuide, Co-Head of Fixed Income, Americas said “As we continue to build our platform in the US, investing in our secondary High Yield enables us to provide US institutional investors with access to a wide range of leveraged credit products from around the globe.”