Primus hires McLendon

Primus Guaranty, a credit derivatives boutique, has hired Charles McLendon as president of asset management - a newly created role at the company.

New York-based McLendon will report to Thomas Jasper, chief executive of Primus. Jasper highlighted McLendon's proven track record in growing and managing structured credit and swaps businesses as skills that will be essential in his new role: helping Primus - whose core business is selling credit protection - to expand its asset management activities.

Prior to joining Primus, McLendon was global head of the investment grade group at Bank of America - responsible for all sales, trading, and syndicate activities for corporate bonds, credit derivatives, and structured credit products.

In the late 1990s, before joining Bank of America, McLendon oversaw marketing efforts of credit and interest rate swaps to financial institutions at the Union Bank of Switzerland.