Prudential M&G will not immediately replace Mike Ramsay, its former head of leveraged finance, after The Carlyle Group hired him to kickstart its new European leveraged finance group in late September. Instead, Colin Atkins, back-up portfolio manager for client accounts at Prudential M&G leveraged finance, has taken over Ramsay's responsibilities for external clients as senior portfolio manager.
"[Prudential M&G] is not replacing Mike immediately," confirmed Fiona Hagdrup, director of marketing for the private finance group. She added that "in terms of portfolio management [there will be] no change." Atkins acted as the day-to-day portfolio manager on the CLO while Ramsay was responsible for the marketing and client relationships.
Carlyle is building a London-based team to start its own European leveraged finance group. The group will invest in European senior secured bank loans, mezzanine and high-yield bonds.