Three senior fixed-income officials from merchant bank Heritage Capital have joined Exotix, the boutique investment bank, to form part of the firm’s new fixed-income credit markets group.
Hanspeter Jaberg, Michael Rimmell and Stephen Best will expand broaden the shop’s reach into non-emerging markets, according to a statement.
The new Exotix fixed-income credit markets team covers credit-linked notes, but is not involved in credit default swaps, a spokeswoman told DI. In addition, the team is also covering some private placements with an embedded derivative, like interest rate, equity and fx structures.
Jaberg, managing director of the new team, was previously head of sales at Heritage Capital. He will head up the London team, that will include Michael Rimmell and Stephen Best, in their work across continental, U.K. and Ireland asset managers, hedge funds, bank treasuries and building societies. Rimmell joins from Heritage’s London office, where he worked a similar role. Best worked for Heritage in Geneva where he traded fixed-income products.
Exotix was founded in 1999 and is a global brokerage specializing in illiquid bonds and loans, equities, structured finance, asset management, research and capital raising. The hires could not be reached immediately for comment.