Assenagon has hired Ulrich von Altenstadt as head of credit sales. He will be responsible for the distribution of credit funds and for the coverage of institutional investors in risk management solutions.

Von Altenstadt joins from HVB, where he had worked in various leading positions in the fixed income and credit area since 1998. As md he developed the international customer business of the bank and built up the European branch network in the markets area. Von Altenstadt started his career in 1990 at Bayerische Hypotheken- und Wechselbank in fixed income sales and subsequently changed to the debt capital markets division of Bayerische Vereinsbank.

Vassilios Pappas, Assenagon founding partner, comments: "After a most successful start in the credit business with the two fund managers Dr. Jochen Felsenheimer and Dr. Wolfgang Klopfer at the beginning of the year, we decided to invest in the expansion of this area."