Standard Chartered has entered the securitisation business by stealth, hiring a global head of securitisations and several specialists in London and Hong Kong.Getting into the securitisation business is part of Standard Chartered’s push to “enhance the range of products it offers clients", said a spokesperson for the bank.
Standard Chartered hired Marty Essenburg from Bank of America at the beginning of the year as its London-based global head of securitisation. He will also head fixed income for Africa and the Middle East.
Under Essenburg’s leadership, Standard Chartered has built up a four- to five-strong securitisation team in London and a unit in Hong Kong, which currently comprises three people led by the head of Asian securitisation, who reports to Essenburg.
The bank is aiming to offer a complete range of securitisations, from cash asset-backed securities to synthetic collateralised debt obligations.
Standard Chartered insiders said the bank may make additional appointments and could set up teams elsewhere in the world.
Topics: Standard Chartered Bank
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