Opened in April 2011, the firm’s New York fixed income office currently manages $2bn of US high yield assets. Over the next year, it expects to complement this by raising of $2.5bn in investment grade assets.
C. Ryan Miller, recruited from JPMorgan Chase Bank, and Justin Ziegler, from Keefe, Bruyette and Woods, will both work alongside the high yield team. Joining them will be Martin McCudden, who will relocate from Swip’s Edinburgh-based credit team in December.
All three will report to Neil Murray, global head of credit, who said the firm intends to build on the success of its well-established UK and European credit and US high-yield expertise to “develop global credit propositions that will meet the growing demands from existing and future clients for innovative global fixed income solutions.”
As at the end of June, Swip held over £67bn in fixed income and cash assets, its fixed income team being one of the largest active managers in the UK.
Earlier this month, Swip expanded Daniel McKernan’s Edinburgh-based UK and European credit team with the hire of Neil Tong from Alliance Trust.
