London-based Morley Fund Management, the asset management arm of insurance company Aviva, has recruited a sell-side derivatives specialist as it prepares to make greater use of over-the-counter products.David Barbour joins from Lehman Brothers, where he worked as a senior International Swaps and Derivatives Association negotiator. Morley entered Isda earlier this year, and is now upgrading its front and back office to accommodate a high volume of derivatives trading. The fund has £156 billion of assets under management, around half of which belong to Aviva.
Morley’s head of investment business management, Jez Bezant, said its clients were increasingly interested in using derivatives to solve their investment problems. Those clients, typically pension funds and insurers, demand better protection from investment risk than others in the OTC market.
Barbour will be responsible for setting up a legal framework to manage and control Morley’s use of derivatives, and review current and future contracts. He will also continue to work closely with Isda on issues such as standardisation, which Bezant said was particularly important to the fund. Meanwhile, Bezant said the company would continue to look for sell-side derivatives specialists to help it prepare for trading.
More on People
Head of clearing and risk understood to be moving into private practice
Dealer rejigs multi-asset group management with internal promotions
Gérardin replaces Papiasse, who stays, but focuses on "remediation plan"
Former SG Asia sales head Nicolas Reille joins Natixis in Hong Kong
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.