Sector developments and company hires

Acquisition finalised

Artex has completed the acquisition of Horseshoe Insurance Services Holdings. This acquisition significantly strengthens its ILS operations and furthers the company’s goal to become the best service provider to the world’s risk capital. Horseshoe will become the global brand of ILS services for Artex, which will operate as one global team across multiple jurisdictions. Andre Perez and his associates will continue to operate from their current locations under the direction of Peter Mullen, ceo of Artex.

NPL ABS outlined

Banca Popolare Agricola de Ragusa has launched a derisking initiative and, as part of this, it is planning to securitise a €400m portfolio of Italian non-performing loans. At the same time, it plans to launch a debt collection platform in partnership with a primary specialised servicer.

Structured credit head named

Imperial Capital has hired Mark Green as head of special situations and structured credit, based in New York. He will be responsible for expanding the firm’s credit sales, trading and investment banking efforts further through credit event-driven situations, structuring expertise and investment strategies designed to allow clients to develop valuable solutions to issues they face and benefit from market opportunities across a range of asset classes. Prior to joining Imperial Capital, Green was the managing partner and cio of Chatham Road Capital, a credit-focused investment firm he co-founded that exploited market imbalances and inefficiencies in the public and private markets.