-- Daniel Flatt
The current volatility in the credit market has spurred collateralized debt obligation manager Intermediate Capital Group to go on the hunt for portfolio managers, particularly those with expertise in leveraged loans and trading. Janine Peake, investor relations director at ICG, told TS the firm is scouting for two new players to join the team.
"It used to be a market where people bought the paper and sat on it, little trading was done," Peake said. "So we do need people with that ability – clearly in a market where they are this volatile we need people who are able to move in and out more quickly." ICG currently manages, among other funds, eight CDO porfolios under the Eurocredit CDO banner.
The news comes as ICG today announced the appointment of Dagmar Kent Kershaw to head its collateralized debt obligation and institutional mandate team after Sara Halbard announced her retirement from the role in June this year, taking effect in June 2008.
Kershaw joins from Prudential M&G, where she was the founder and head of structured products for the last seven years. She was previously responsible for Prudential M&G's debt private placement business and has over 15 years experience in the credit markets, formerly at Scotiabank and NatWest Bank.
Simon Pilcher, head of fixed income at Prudential M&G, confirmed Kershaw's departure and also announced a restructuring of the firm’s own CDO business. Under the new structure, the heads of each discipline in the firm’s structured credit team will now directly report to Pilcher. Those in question are William Nicoll, head of synthetic CDOs; Mike Nicholson, head of cash CDOs; and James King, head of product development.