Norges Bank Investment Management is setting up an absolute return credit team in London. The firm has one trader, Herleif Haavik, executing outright and spread positions in corporate securities and derivatives out of New York. Haavik said he is moving to London and plans to hire several portfolio managers to build a team, called the Credit Alpha Team. This will be part of the bank's fixed income group, but will operate as a separate profit center.
Norges Bank Eyes London Credit Group
