BlueBay Asset Management Adds Two to Leveraged Finance Team

Feb 11 2016 | 9:16pm ET

Fixed income specialist BlueBay Asset Management has added to its high-yield credit expertise with the addition of Jean-Yves Guibert and Marc Kemp to its Global Leveraged Finance team.

Guibert has joined as a senior credit analyst in high yield and Kemp has joined as institutional portfolio manager, according to the company. The duo will be based in London.

Guibert joins from BNP Paribas, where he was head of European high yield sector specialists covering European TMT and Cable as a specialization. Kemp, meanwhile, was previously at JPMorgan, where he was managing director and head of European high yield sales.

The appointments strengthen BlueBay’s well-known high yield team, particularly in coverage of European markets, and in serving clients. Both individuals bring extensive industry knowledge, and have particular experience in absolute and relative value trade ideas and market distribution.

“In normal credit cycles, the period of market stress is usually sharp but short lived and corresponds with worsening economic conditions,” noted Justin Jewell, co-head of global leveraged finance (long only) said in a statement. “This cycle could be very different, as the distortions created by zero interest rate policies and quantitative easing (and their reversal) will likely result in economic and credit cycles that are less closely aligned. We would further argue that this cycle will likely show a lengthier period of spread widening, as defaults are likely to occur over a longer period.”

“The dynamic is such that individual credit selection is essential in this cycle and investors need to understand that volatility will continue to feature for the foreseeable future,” he continued. “For this reason, the appointment of Jean-Yves and Marc will continue to enhance our sector coverage and our client interactions.”

Headquartered in London, BlueBay Asset Management is a global fixed income asset manager wholly-owned by Royal Bank of Canada within its RBC Global Asset Management group of businesses. It managed approximately $57 billion for institutions and high-net worth individuals as of 31 December 2015 invested across the global fixed income spectrum from active long-only portfolios to hedge funds and private debt. 

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