Joseph Pimbley has joined insurance company American Capital Access as a credit derivatives portfolio manager in its structured finance department, says Cathy Bailey, a spokeswoman at ACA. Pimbley started last Thursday. He will report to Maryam Muessel, coo. 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. Pimbley's position is a newly created one, says Bailey, reflecting growth in the structured finance business of ACA. She adds that the department may add more people in the future but declined to be more specific.
Pimbley joins from Sumitomo Mitsui Capital Markets, an affiliate of Sumitomo Mitsui Banking Corp., where he was head of credit derivatives trading in New York. He reported to Joseph Brennan, managing director and global head of trading. Pimbley says he left Sumitomo because "working for Japanese banks may be challenging." Brennan could not be reached for comment.