Sector developments and company hires

Alvarez & Marsal’s (A&M) inaugural efforts as sole arranger have secured a breakthrough for Polish bank, Getin Noble Bank (GNB).  A&M financial services served as sole arranger for GNB’s first synthetic securitisation for risk transfer. The transaction compiles a portfolio of housing community loans and marks the first of its kind for the historically well performing but never-before-securitised asset class. The securitisation represented an array of challenges, including long duration and non-EUR currency, as well as being only the second ever non-supranational SRT in Poland. A&M were able to support the bank in the complex transaction by bringing their synthetic structuring expertise and investor interest to the deal. 

In other news…

EMEA

Citi has promoted former credit markets trading chief, Amit Raja, to regional head of market for EMEA. Raja, who joined the firm in 1997, has served since 2017 as the bank’s head of credit markets in EMEA, while also working as senior manager for global spread products trading. The firm hopes Raja’s move will better connect its market franchise with its broader ICG and global wealth platforms, and follows the promotion of Leo Arduini to chief operating officer of global markets earlier this year. In his new role, Raja will concentrate on developing and implementing product delivery strategy and will further the work Arduini has already begun to enhance Citi’s markets business in EMEA. Raja is also expected to join the EMEA operating committee, following regulatory approval, and will take over from Arduini as senior manager for markets for Citi’s UK legal entities.

North America

Megan Messina has joined Oaktree as head of CLO capital markets. The well-experienced CLO banker joins the firm’s New York office from Symphony Asset Management where she worked as director and senior portfolio strategist in structured credit since 2019. Prior to this, Messina served as md and co-head of global structured credit products at Bank of America Merrill Lynch. Messina will bring both her financial services background and extensive knowledge of capital markets, structured credit, fixed income, asset management, and derivatives to her new role.