Managing Partners Group has appointed Philip Eaton Richards as its head of Capital Markets team as it seeks to bolster its asset-backed securities (ABS) business based in Malta.
Reporting CEO Jeremy Leach, Eaton Richards will be responsible for developing MPG’s securitisation and structuring services arm.
MPG believes the ABS market will rise over the next few years in Europe to meet demand from companies in three main sectors, including SMEs looking to expand their products and services, operators in the growing FinTech sector and alternative fund managers looking to raise extra capital without creating new shares or units in their products.
Eaton Richards commented: “There is a major opportunity for providers of good quality, ABSs. They offer investors outstanding yields in the current low interest rate environment, which will persist for at least five years.
“They can also provide the finance for SMEs and for fund managers, who operate in an extremely competitive market and need to find new ways of attracting capital to invest.
“The ABS market does need more regulated products and tighter regulation but Europe needs this sector to grow to support its economy. I look forward to developing MPG’s proposition in this exciting market.”
MPG currently manages funds with a gross value of $500m.
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