UK - Bluebay Asset Management has established a new structured products and fund derivatives group.
The London-based specialist fixed income manager says the move will allow it to enter the collateralised debt obligation market while managing the non-investment franchise risk involved.
The new unit will be managed by Alex Khein, who joins BlueBay from Morgan Stanley where he was head of European product structuring and execution. Ultimately, the firm hopes to establish an asset-backed securities group to manage both structured product content and standalone funds.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.