Henderson Global Investors’ £17.28 billion (€20.77 billion or US$28.62 billion) fixed income business has hired Steve Drew as Head of Emerging Market Credit. He will work alongside Stephen Thariyan, Global Head of Credit, and Phil Apel, Head of Fixed Income, in building out the emerging market credit team.
Most recently Steve was Partner and Head of Global and Emerging Credit at Thames River Capital and managed in excess of £1.5bn (€1.8bn or US$2.4bn), c.£750m (€900m or US$1.2bn) of which was in emerging market credit. Steve has over 20 years of global credit experience across buy and sell-side businesses such as JP Morgan Chase and Tudor Capital.
Commenting on the appointment, Stephen Thariyan said, “Steve brings valuable investment knowledge, client relations and management skills to the team. His understanding of the emerging market credit sector, together with his impressive track record with client money and proven ability to help raise assets, will be hugely beneficial as we focus on expanding the scale of our fixed income franchise globally.”
“We will actively seek to apply Steve’s expertise to our existing portfolios for the benefit of our clients as his approach to investing, combining top down macroeconomic perspectives with security selection, fits well with our established method. During 2014 we plan to hire an investment team specialising in emerging market credit to support Steve. This will give us the background to launch products in the area.”
Steve Drew added: “Henderson has an excellent reputation in the credit market and the wider fixed income team is one of the most respected in the industry. My choice to join was also based on the strong collective belief that emerging market credit forms an imperative part of Henderson’s future business strategy. This is an exciting time for Henderson and I look forward to working with Stephen and the team.”