By Daniel Lanyon on 8th May 2018
The asset manager launched its first direct lending strategy back in 2016.
Hermes Investment Management has expanded its fixed Income team with two new hires in London.
Stephane Michel has been appointed as Senior Portfolio Manager as of 19 March 2018. Reporting to Andrew Jackson, Head of Fixed Income. He will be assisting to build out the Asset Based Lending platform as well as the wider Multi-Asset Credit capabilities for Hermes. He will be responsible for identifying market opportunities, trends and strong risk-adjusted relative value across illiquid markets as well as making portfolio composition recommendations.
Michel was previously on the buy-side and sell-side, including five years at UBS AG and has also consulted on opportunities in the credit space ranging from regulatory capital trades to development of a CLO and direct-lending platform.
Andrew Lennox has been appointed as Asset Backed Securities Portfolio Manager as of 3 April 2018 and will make investment recommendations within the European ABS universe. Reporting into Vincent Nobel, Head of Asset Based Lending, his role will also include building and developing systems and infrastructure to analyse, risk manage, report on and monitor European ABS assets.
Lennox joins from BlackRock where he was a Senior Portfolio Manager in the European Asset Backed Securities team, responsible for managing European securitised assets including traditional ABS and corporate style securitisations. Prior to joining BlackRock in 2015, he spent 11 years at ECM, a Wells Fargo Company and also worked at Goldman Sachs International.
The new roles show how the firm is expanding into new areas of global credit markets since launching its first direct lending strategy back in 2016.
Hermes, which manages £33bn across asset classes, now has a Fixed Income team that is 26-strong, working across both public and private debt markets.
Andrew Jackson, Head of Fixed Income, said: “The wealth of experience that Stephane and Andrew bring will strengthen what is an already highly-skilled team. Their appointments allow us to develop our offering to pension funds and other long-term institutional clients.”