Barclays Global Investors (BGI) has hired Sheppard Davis, head of corporate finance at ORIX Capital Markets for the past two years, as its head of credit strategies and trading within its U.S. fixed-income group. Kerry Steele, a BGI spokeswoman, said Davis' hire is part of a broader effort by the firm to expand its fixed-income department, which includes both active and passive investment strategies. Davis, who started the week of Oct. 6, arrives at the firm following a stint as head of corporate finance at ORIX Capital Markets, said Steele.
Davis joined ORIX during a merger with Seaboard & Co., a hedge fund he founded in 1992. It is rumored that the management contract of Seaboard CLO 2000 was shopped around this year (LMW, 8/31). It could not be determined if Davis' leaving is connected to this, and Davis did not return calls before press time. Chris Smith, ORIX's credit research chief, has assumed Davis' responsibility for the portfolio, which totaled roughly $3.5 billion earlier this year. Separately, ORIX has moved a portfolio of mezzanine debt and private equity investments from New York to Dallas, to be managed by Bill Ficca.
Steele added that Davis will be joining a group of other recent new hires and will be reporting to Peter Wilson, head of U.S. fixed-income. "BGI is in the process of growing out its active fixed-income area," said Steele. "And this latest hire is a part of that." Other new hires include Mark Talbot, U.S. fixed-income product strategist and Peter Knez, head of U.S. fixed-income research. Both were hired in mid-summer.