Aberdeen Asset Management is expanding its loans business with the appointment of a former BNP Paribas trader.
The firm has hired Paul Mehta as global head of loans. Mehta was previously a senior trader in BNP Paribas’ loans and distressed debt team.
Aberdeen said it was seeing increased demand for investment in loans.
Steve Logan, global head of high yield at the firm, said: “Paul’s appointment is part of our strategy to further strengthen our loans capability, where we have been investing for a number years. This also reflects the increasing appetite from clients to invest in loans.”
The company’s fixed income team has invested in the loans market through its Global High Income Fund for some time, as well as managing separate accounts for institutional clients.
Typical bond products are focussed on investing in the US market, Aberdeen said, but part of Mehta’s role will be to continue Aberdeen’s drive to invest in a global range of loans across the US, Europe and emerging markets.
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