Execution adds five to credit agency brokerage

Agency broker Execution has made a further five hires in the fixed income division it launched in July this year. The total number of personnel in the fixed income division is now 14 and is expected to grow to 25 by the first quarter of next year.

All five join the credit team headed in Europe by Bruce Howitt. The agency credit business deals in high-grade debt, ABS, emerging market debt, as well as high-yield and distressed debt.

Olivier Dega joins Execution to run French sales from a new office in Paris. He brings over 12 years of experience in fixed-income sales covering French accounts at Credit Suisse.

Michael Leonard joins as a sterling specialist, covering UK asset managers, insurance companies and pension funds. He has over 10 years experience on the buy and sell side, having served as a sterling credit market maker at JP Morgan and Deutsche Bank before joining Credit Suisse Asset Management as a sterling portfolio manager.

Karolina Kalkantara joins as an ABS product specialist and additionally will cover Greek and Cypriot accounts on all asset classes. She has over 10 years experience in the asset backed markets, having worked at Deutsche Bank, WestLB and Calyon, where she was a consultant on the structured credit trading desk.

Jaren Yeo joins from Citi, where she latterly traded asset-backed securities. Prior to this she was an ABS correlation trader.

Also joining is Toby Rackliff, who will focus on money market credit sales. He has more than a decade of experience as a money-market fund manager with ABN Amro, which then became Fortis Investments.