Sector developments and company hires in structured finance

China

Fitch Ratings has launched Fitch Bohua Credit Ratings to serve China's onshore bond market and has appointed Danny Chen as Fitch Bohua's ceo. Initially, the company will cover banks, non-bank financial institutions and insurers, as well as the structured finance sector. Chen was previously ceo of Qingdao Conson Financial Holdings. A team of analysts, business development and support staff are already in place at Fitch Bohua and the company expects to fill other positions soon.

Global ceo appointed

GLAS has promoted Steven Hodgetts to ceo, from his previous role of head of EMEA at the firm. He takes over from co-founder Mia Drennan, who becomes group president of the global business in a newly created role, while Joanne Brooks takes up the role of head of EMEA.

ILS

Amundi Pioneer has hired Campbell Brown as an ILS portfolio manager, based in Boston. Before joining the firm, Brown worked as an underwriter and vp at Odyssey Re.

Restructuring team formed

Akin Gump has formed a four-partner financial restructuring and global debt finance team. The team includes Thomas O’Connor, Renée Dailey, Christopher Lawrence and Chester Fisher, all joining from Morgan Lewis. O’Connor will reside in Akin Gump’s London office, while Dailey, Fisher and Lawrence will launch the firm’s new Hartford, Connecticut office. The team focusses on the institutional debt private placement market across the globe, with a practice encompassing a wide range of private placement financing transactions and financial restructuring matters.

US

Crescent Capital has hired Mark du Four as md, focusing on private capital markets. Du Four will be responsible for sourcing middle market lending opportunities for the Crescent platform and providing capital markets and syndication capabilities. Previously, du Four was head of capital markets for NewStar Financial, where he worked for 14 years.

Penn Mutual Asset Management has hired Chris Fanelli as md in business development and will drive the firm’s institutional sales efforts for its fixed income strategies. Fanelli previously held a position as md at Guggenheim Partners.