American Capital Access has hired Joseph Pimbley, head of credit derivatives trading at Sumitomo Mitsui Capital Markets in New York, as a credit derivatives portfolio manager in its structured finance department. Pimbley started last Thursday and reports to Maryam Muessel, coo, according to Cathy Bailey, a spokeswoman at ACA. Muessel heads the structured finance group and overseas the firm's asset-backed security and collateralized debt obligation portfolio management and structuring. Pimbley will specialize in managing and structuring credit derivative products within that group, including CDOs. His position is a newly created one, reflecting growth in the structured finance business of ACA, said Bailey. The department may add more staff in the future but she declined to be more specific.
At Sumitomo, Pimbley reported to Joseph Brennan, managing director and global head of trading. Pimbley said he left Sumitomo because of the challenges of working for a Japanese bank. Brennan could not be reached for comment.