UniCredit swoops for NewSmith

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UniCredit has bought London-based credit advisory NewSmith Financial Products (NSFP) and appointed chief executive TJ Lim as its new co-head of markets.

Under the deal, the bank will also become an investor in NewSmith funds and take a 5% stake in NewSmith Capital Partners, NSFP's parent firm.

Lim and a team of 10 will join the European bank's markets and investment banking division in London. As co-head of markets, Lim will have responsibility for global credit, fixed income, currencies and

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