|Name: Arnaud Achour|
Date promoted: September 2005
Title: Head of debt capital markets origination
Previous job before promotion: Head of corporate origination
Years in capital markets: 15
First job in capital markets: Structured corporate finance
Favourite deal worked on: Eu1bn five year for Citibank Credit Card
Lives in: Chelsea, west London
Heroes: Albert Einstein, Charlie Chaplin, Steve Jobs
Arnaud Achour was made head of debt capital markets origination at SG CIB in September, responsible for corporates, financial institutions and sovereigns, supranationals and agencies.
Achour was recruited by the bank in 2001, just before the creation of SG's debt finance division by Jean-Pierre Mustier, now CEO of corporate and investment banking at SG.
The debt finance division saw the merger of the bank's capital markets and structured finance activity. The aim was to develop a debt advisory approach to issuers and raise the bank's visibility and profitability.
Achour was hired to run the corporate origination team, with the mandate of shifting its focus from pure bond origination to a debt management approach, tripling the headcount and raising its profile.
"As head of corporate origination, I was heavily involved in production with a far more hands-on type of management. The position I took last summer is more about strategy and organisation — leveraging the best of our successful corporate model for financials and the public sector."
While corporate business remains tough, financials and SSA are a different story, says Achour.
"It's not easy for most banks in the corporate segment this year. Despite higher volumes for June, issuance is down 50% against 2003. There are fewer financing needs and competition is high. Corporates are cash rich, M&A has not really taken off and capex programmes have not increased substantially enough.
"It is not an obvious exercise for corporate originators but there are still some opportunities for the best through innovative and heavily structured transactions.
"However, issuance volumes for FIG and SSA are up. We have shifted our focus from senior unsecured to subordinated debt in financials, a visible and more profitable segment. We are working to raise our profile in SSA where structured public financing solutions are a growth area."
Achour reports to Olivier Khayat (qv), global head of SG CIB's DCM group.